Top 5 Stock Picks of Frank Fu’s CaaS Capital

2. Constellation Energy Corporation (NASDAQ:CEG)

CaaS Capital’s Stake Value: $27,460,000
Percentage of CaaS Capital’s 13F Portfolio: 1.12%
Number of Hedge Fund Holders: 47

Constellation Energy Corporation (NASDAQ:CEG) generates, distributes, and sells clean and renewable energy products and solutions. On May 12, Constellation Energy Corporation (NASDAQ:CEG) published earnings for the first quarter of 2022, announcing a revenue of $5.59 million, up 0.5% year over year.

Wells Fargo analyst Neil Kalton decreased his price objective on Constellation Energy Corporation (NASDAQ:CEG) from $75 to $70 on May 13 while maintaining an Overweight rating. Despite lowering his price target, he maintained his optimistic stance in the wake of the first quarter report, advising investors to take advantage of the stock’s low price.

By the end of the first quarter of 2022, Insider Monkey identified 47 hedge funds that had stakes in Constellation Energy Corporation (NASDAQ:CEG). The total value of these stakes was over $1.12 billion. Frank Fu’s hedge fund held 488,181 shares of Constellation Energy Corporation (NASDAQ:CEG) as of the end of the first quarter of 2022, which were worth $27.46 million and represented 1.12% of his portfolio.