Keel Infrastructure (NASDAQ:KEEL) Shares Gap Up – Here’s Why

Keel Infrastructure (NASDAQ:KEEL) gapped up before the market opened on Monday. The stock had previously closed at $2.31, but opened at $2.45. Keel Infrastructure shares last traded at $2.3550, with a volume of 3,214,640 shares.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on KEEL. Citigroup reaffirmed a “buy” rating on shares of Keel Infrastructure in a research note on Monday, August 10th. BTIG Research assumed coverage on shares of Keel Infrastructure in a research report on Wednesday, July 22nd. They issued a “buy” rating and a $8.00 price target for the company. Citizens Jmp initiated coverage on shares of Keel Infrastructure in a research report on Wednesday, June 24th. They issued an “outperform” rating and a $10.00 price target for the company. Cantor Fitzgerald reduced their price target on shares of Keel Infrastructure from $5.00 to $4.00 and set an “overweight” rating for the company in a research report on Friday. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Keel Infrastructure in a report on Friday, October 9th. Seven investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $6.42.

Keel Infrastructure Trading Up 2.8%

The firm’s fifty day simple moving average is $3.40. The company has a quick ratio of 16.10, a current ratio of 16.26 and a debt-to-equity ratio of 3.11. The company has a market cap of $1.47 billion, a price-to-earnings ratio of -7.92 and a beta of 4.00.

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

Insiders Place Their Bets

In other news, COO Liam Wilson bought 30,769 shares of the company’s stock in a transaction on Thursday, August 20th. The shares were bought at an average cost of $3.25 per share, with a total value of $99,999.25. Following the transaction, the chief operating officer directly owned 100,978 shares in the company, valued at approximately $328,178.50. This trade represents a 43.82% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Benjamin Gagnon purchased 38,888 shares of the business’s stock in a transaction dated Friday, August 21st. The shares were purchased at an average cost of $3.33 per share, with a total value of $129,497.04. Following the completion of the purchase, the chief executive officer directly owned 1,386,624 shares in the company, valued at approximately $4,617,457.92. This represents a 2.89% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last three months, insiders have purchased 128,545 shares of company stock valued at $425,593. Insiders own 9.50% of the company’s stock.

Institutional Investors Weigh In On Keel Infrastructure

Several large investors have recently made changes to their positions in KEEL. SteelPeak Wealth LLC bought a new stake in Keel Infrastructure in the third quarter worth approximately $263,000. TD Waterhouse Canada Inc. increased its stake in shares of Keel Infrastructure by 1,923.6% during the 3rd quarter. TD Waterhouse Canada Inc. now owns 105,409 shares of the company’s stock worth $360,000 after purchasing an additional 100,200 shares during the last quarter. SLT Holdings LLC acquired a new position in shares of Keel Infrastructure during the 3rd quarter worth $90,000. Farther Finance Advisors LLC increased its stake in shares of Keel Infrastructure by 268.0% during the 3rd quarter. Farther Finance Advisors LLC now owns 13,285 shares of the company’s stock worth $47,000 after purchasing an additional 9,675 shares during the last quarter. Finally, State Street Corp bought a new position in shares of Keel Infrastructure during the 2nd quarter valued at $78,100,000. Institutional investors 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.