Keel Infrastructure (NASDAQ:KEEL) Stock Price Down 4.9% – Here’s Why

Keel Infrastructure (NASDAQ:KEEL) dropped 4.9% on Monday. The stock traded as low as $3.39 and last traded at $3.4410. Approximately 4,102,309 shares changed hands during trading, a decline of 89% from the average session volume of 38,125,164 shares. The stock had previously closed at $3.62.

Analyst Ratings Changes

A number of equities analysts have recently commented on KEEL shares. Citizens Jmp began coverage on Keel Infrastructure in a report on Wednesday, June 24th. They set an “outperform” rating and a $10.00 price target for the company. Weiss Ratings reissued a “sell (d-)” rating on shares of Keel Infrastructure in a report on Monday, July 13th. Citigroup reaffirmed a “buy” rating on shares of Keel Infrastructure in a report on Monday, August 10th. Finally, BTIG Research initiated coverage on shares of Keel Infrastructure in a research note on Wednesday, July 22nd. They issued a “buy” rating and a $8.00 price objective for the company. Seven analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Keel Infrastructure currently has a consensus rating of “Moderate Buy” and an average target price of $6.25.

Keel Infrastructure Stock Performance

The stock has a fifty day moving average price of $3.57. The company has a debt-to-equity ratio of 3.11, a current ratio of 16.26 and a quick ratio of 16.10. The company has a market capitalization of $2.14 billion, a PE ratio of -11.57 and a beta of 4.00.

Keel Infrastructure (NASDAQ:KEEL) last issued its quarterly earnings results on Monday, August 10th. The company reported ($0.11) earnings per share for the quarter. The business had revenue of $30.43 million for the quarter. Keel Infrastructure had a negative return on equity of 66.18% and a negative net margin of 230.59%.During the same period in the prior year, the firm posted ($0.05) EPS. As a group, equities analysts predict that Keel Infrastructure will post -0.42 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Keel Infrastructure news, COO Liam Wilson purchased 30,769 shares of the company’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 completion of the purchase, the chief operating officer owned 100,978 shares in the company, valued at $328,178.50. This represents a 43.82% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Benjamin Gagnon acquired 38,888 shares of Keel Infrastructure stock in a transaction dated Friday, August 21st. The shares were bought at an average cost of $3.33 per share, with a total value of $129,497.04. Following the transaction, the chief executive officer owned 1,386,624 shares in the company, valued at approximately $4,617,457.92. This trade represents a 2.89% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last quarter, insiders acquired 128,545 shares of company stock valued at $425,593. 9.50% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Keel Infrastructure

A number of hedge funds have recently added to or reduced their stakes in the company. State Street Corp acquired a new position in shares of Keel Infrastructure during the second quarter worth approximately $78,100,000. The Manufacturers Life Insurance Company acquired a new stake in Keel Infrastructure in the 2nd quarter valued at $1,123,000. Tidal Investments LLC acquired a new stake in Keel Infrastructure in the 2nd quarter valued at $3,213,000. Engineers Gate Manager LP bought a new stake in Keel Infrastructure during the 2nd quarter valued at $309,000. Finally, RFG Advisory LLC acquired a new position in Keel Infrastructure during the second quarter worth $287,000. Institutional investors and hedge funds own 20.59% of the company’s stock.

Keel Infrastructure Company Profile

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.