Insider Trading: Ranjan Tandon’s Libra Advisors sells $EEE

Ranjan Tandon’s Libra Advisors sold 2,863 shares in Evergreen Energy Inc. (EEE) at $0.88 per share on November 2nd and 3rd. Libra Advisors had 1.13 million EEE shares in the second quarter. The firm reported 4.67 million shares or a 15.4% passive stake in EEE in its latest 13G filing on October 3rd, including a series of warrants which can be converted into common shares at the conversion price between $2.6 to $2.9. In the third quarter, Libra Advisors has made several insider transactions in EEE. Prior to this transaction, Libra Advisors sold net 130 thousand shares at around $1 per share on October 6th and 7th. EEE had large price fluctuations in 2011. The stock soared to $4.5 from $0.65 in Q1 after its 8-K filing and acquisition of Carbon Credit Corp. (CCC), and then went all the way back to $1. Now EEE is priced at $0.96.

According to Insider Monkey’s hedge fund tracking list, three hedge funds reported their EEE positions in their 13F in the second quarter. Libra Advisors owned 1.13 million shares, down by 2% from Q1. Eric Sprott’s Sprott Asset Management owned 300 thousand shares in EEE. Ken Griffin’s Citadel Investment Group had about 5 thousand shares and some options at that time.

Ranjan Tandon’s Libra Advisors has a portfolio value of $335 million. It invests about 70% of its capital in Basic Materials sector. The firm also invests in Technology, Utilities, and Service sector.

Evergreen Energy Inc. is a cleaner coal technology, energy production, and environmental solutions company in the United States. It has two clean energy business units with two proprietary technologies: K-Fuel, and the GreenCert suite of software and services. The two technologies are used for business and environmental solutions. The company was founded in 1981 and is based in Denver, Colorado.