Kelt Exploration Ltd. (OTCMKTS:KELTF) Sees Significant Decrease in Short Interest

Kelt Exploration Ltd. (OTCMKTS:KELTF) was the recipient of a large drop in short interest in March. As of March 31st, there was short interest totalling 3,034,900 shares, a drop of 12.2% from the March 15th total of 3,455,700 shares. Based on an average trading volume of 21,400 shares, the days-to-cover ratio is currently 141.8 days.

Wall Street Analyst Weigh In

Separately, BMO Capital Markets restated an “outperform” rating and set a $8.50 target price on shares of Kelt Exploration in a report on Tuesday, April 9th.

Kelt Exploration Trading Down 3.6 %

KELTF stock traded down $0.17 during midday trading on Tuesday, reaching $4.50. 8,986 shares of the company’s stock traded hands, compared to its average volume of 20,175. The business has a 50-day moving average price of $4.36 and a two-hundred day moving average price of $4.62. Kelt Exploration has a fifty-two week low of $3.35 and a fifty-two week high of $5.95.

About Kelt Exploration

Kelt Exploration Ltd., an oil and gas company, engages in the exploration, development, and production of crude oil and natural gas resources primarily in Western Canada. The company markets its crude oil and natural gas liquids primarily to third party. Kelt Exploration Ltd. was incorporated in 2012 and is headquartered in Calgary, Canada.