Keel Infrastructure (NASDAQ:KEEL) Shares Gap Up – Time to Buy?

Shares of Keel Infrastructure (NASDAQ:KEEL) gapped up prior to trading on Thursday . The stock had previously closed at $3.36, but opened at $3.53. Keel Infrastructure shares last traded at $3.5240, with a volume of 6,173,536 shares.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Citizens Jmp began coverage on Keel Infrastructure in a research note on Wednesday, June 24th. They set an “outperform” rating and a $10.00 price target for the company. Weiss Ratings restated a “sell (d-)” rating on shares of Keel Infrastructure in a report on Monday, July 13th. Alliance Global Partners restated a “buy” rating on shares of Keel Infrastructure in a report on Monday, May 11th. Chardan Capital reiterated a “buy” rating and issued a $5.50 target price on shares of Keel Infrastructure in a research note on Monday, June 8th. Finally, BTIG Research initiated coverage on shares of Keel Infrastructure in a report on Wednesday, July 22nd. They set a “buy” rating and a $8.00 price target on the stock. Seven investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $6.25.

Keel Infrastructure Stock Down 8.3%

The company has a market capitalization of $1.99 billion, a PE ratio of -10.73 and a beta of 4.14. The company has a debt-to-equity ratio of 3.11, a quick ratio of 16.10 and a current ratio of 16.26. The business has a 50-day moving average of $4.28.

Keel Infrastructure (NASDAQ:KEEL) last released its quarterly earnings results on Monday, August 10th. The company reported ($0.11) EPS for the quarter. Keel Infrastructure had a negative net margin of 230.59% and a negative return on equity of 66.18%. The firm had revenue of $30.43 million during the quarter. During the same quarter last year, the company posted ($0.05) earnings per share. On average, analysts predict that Keel Infrastructure will post -0.43 earnings per share for the current fiscal year.

Insider Buying and Selling at Keel Infrastructure

In other news, CEO Benjamin Gagnon bought 58,888 shares of the company’s stock in a transaction that occurred on Thursday, August 13th. The shares were purchased at an average price of $3.33 per share, for a total transaction of $196,097.04. Following the acquisition, the chief executive officer directly owned 1,347,736 shares of the company’s stock, valued at $4,487,960.88. The trade was a 4.57% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, COO Liam Daniel Wilson bought 30,769 shares of the business’s stock in a transaction on Thursday, August 20th. The shares were purchased at an average cost of $3.25 per share, with a total value of $99,999.25. Following the transaction, the chief operating officer owned 100,978 shares in the company, valued at approximately $328,178.50. The trade was a 43.82% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders purchased a total of 128,545 shares of company stock worth $425,593 in the last quarter. Insiders own 9.50% of the company’s stock.

Hedge Funds Weigh In On Keel Infrastructure

Large investors have recently made changes to their positions in the business. Situational Awareness LP acquired a new stake in Keel Infrastructure in the 2nd quarter valued at approximately $151,831,000. Bank of New York Mellon Corp bought a new stake in shares of Keel Infrastructure in the second quarter valued at approximately $9,989,000. FirstWave Capital Management LLC bought a new stake in shares of Keel Infrastructure in the second quarter valued at approximately $1,478,000. Round Rock Advisors LLC acquired a new position in Keel Infrastructure during the 2nd quarter valued at $1,425,000. Finally, Susquehanna Advisors Group Inc. acquired a new position in Keel Infrastructure during the 2nd quarter valued at $1,333,000. Institutional investors and hedge funds own 20.59% of the company’s stock.

About Keel Infrastructure

Bitfarms Ltd. is a bitcoin mining company. It provides vertically integrated mining operations with onsite technical repair, proprietary data analytics and Company-owned electrical engineering and installation services to deliver operational performance and uptime. Bitfarms Ltd. is based in TORONTO, Ontario.