Connor Clark & Lunn Investment Management Ltd. Makes New Investment in Kolibri Global Energy Inc. $KGEI

Key Points

• Connor Clark & Lunn Investment Management Ltd. recently acquired a new stake in Kolibri Global Energy Inc. by purchasing 254,600 shares valued at approximately $2,125,000.
• Kolibri Global Energy reported $0.08 earnings per share for the most recent quarter, meeting analysts' expectations but falling short of the revenue target of $20.45 million, with actual revenue at $11.11 million.
• Institutional investors and hedge funds collectively hold 27.26% of Kolibri Global Energy's stock, highlighting significant institutional interest in the company.

Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Kolibri Global Energy Inc. (NASDAQ:KGEI - Free Report) in the 1st quarter, according to the company in its most recent filing with the SEC. The fund acquired 254,600 shares of the company's stock, valued at approximately $2,125,000. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.72% of Kolibri Global Energy as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of KGEI. TFG Asset Management GP Ltd increased its stake in shares of Kolibri Global Energy by 37.7% in the 4th quarter. TFG Asset Management GP Ltd now owns 9,739,635 shares of the company's stock valued at $51,815,000 after acquiring an additional 2,669,067 shares in the last quarter. 683 Capital Management LLC bought a new stake in shares of Kolibri Global Energy in the 4th quarter valued at $364,000. Finally, Millennium Management LLC increased its stake in shares of Kolibri Global Energy by 47.0% in the 4th quarter. Millennium Management LLC now owns 62,992 shares of the company's stock valued at $335,000 after acquiring an additional 20,135 shares in the last quarter. Institutional investors own 27.26% of the company's stock.

Kolibri Global Energy Stock Down 0.4%

NASDAQ KGEI traded down $0.02 during mid-day trading on Tuesday, hitting $5.63. The company's stock had a trading volume of 12,773 shares, compared to its average volume of 173,780. The company's 50 day simple moving average is $6.37 and its 200 day simple moving average is $6.99. Kolibri Global Energy Inc. has a twelve month low of $2.85 and a twelve month high of $9.89. The company has a current ratio of 0.39, a quick ratio of 0.39 and a debt-to-equity ratio of 0.15. The firm has a market capitalization of $199.41 million, a price-to-earnings ratio of 10.44, a PEG ratio of 0.75 and a beta of 0.05.

Kolibri Global Energy (NASDAQ:KGEI - Get Free Report) last posted its quarterly earnings results on Monday, August 11th. The company reported $0.08 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.08. The business had revenue of $11.11 million during the quarter, compared to the consensus estimate of $20.45 million. Kolibri Global Energy had a net margin of 33.40% and a return on equity of 9.54%. Analysts anticipate that Kolibri Global Energy Inc. will post 0.48 earnings per share for the current year.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen downgraded shares of Kolibri Global Energy from a "hold" rating to a "sell" rating in a research report on Saturday. One analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus target price of $11.00.

Kolibri Global Energy Profile

Kolibri Global Energy Inc engages in the finding and exploiting oil, gas, and clean and sustainable energy in the United States. It sells crude oil, natural gas, and natural gas liquids. The company was formerly known as BNK Petroleum Inc and changed its name to Kolibri Global Energy Inc in November 2020.