Keel Infrastructure (NASDAQ:KEEL) Stock Jumps 9.8% – Here’s What Happened

Keel Infrastructure (NASDAQ:KEEL)’s stock price rose 9.8% during mid-day trading on Tuesday. The company traded as high as $2.09 and last traded at $2.0750. 3,031,000 shares changed hands during trading, a decline of 92% from the average daily volume of 37,068,949 shares. The stock had previously closed at $1.89.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the company. BTIG Research initiated coverage on Keel Infrastructure in a research report on Wednesday, July 22nd. They issued a “buy” rating and a $8.00 price target for the company. B. Riley Financial dropped their target price on Keel Infrastructure from $6.00 to $5.00 and set a “buy” rating for the company in a research report on Friday. Cantor Fitzgerald dropped their price objective on shares of Keel Infrastructure from $5.00 to $4.00 and set an “overweight” rating for the company in a report on Friday, October 16th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Keel Infrastructure in a report on Friday, October 9th. Finally, Citigroup reissued a “buy” rating on shares of Keel Infrastructure in a research report on Monday, August 10th. Eight research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Keel Infrastructure has a consensus rating of “Moderate Buy” and a consensus target price of $6.21.

Keel Infrastructure Stock Up 13.0%

The stock has a market cap of $1.32 billion, a price-to-earnings ratio of -7.08 and a beta of 4.00. 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 firm’s 50-day moving average is $3.14 and its 200 day moving average is $3.92.

Keel Infrastructure (NASDAQ:KEEL) last released 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 period in the previous year, the company posted ($0.05) EPS. Sell-side analysts anticipate that Keel Infrastructure will post -0.41 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Benjamin Gagnon bought 38,888 shares of the firm’s stock in a transaction on Friday, August 21st. The stock was purchased at an average price of $3.33 per share, for a total transaction 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 purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, COO Liam Wilson acquired 30,769 shares of Keel Infrastructure stock in a transaction dated Thursday, August 20th. The shares were acquired at an average price of $3.25 per share, with a total value of $99,999.25. Following the completion of the transaction, the chief operating officer owned 100,978 shares of the company’s stock, valued at approximately $328,178.50. This trade represents a 43.82% increase in their position. The SEC filing for this purchase provides additional information. Over the last quarter, insiders purchased 128,545 shares of company stock worth $425,593. 9.50% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Keel Infrastructure

Hedge funds have recently bought and sold shares of the business. Chicago Partners Investment Group LLC bought a new stake in shares of Keel Infrastructure in the 3rd quarter worth approximately $719,000. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in shares of Keel Infrastructure during the third quarter worth $300,000. Apollon Wealth Management LLC grew its position in shares of Keel Infrastructure by 22.0% during the 3rd quarter. Apollon Wealth Management LLC now owns 60,276 shares of the company’s stock worth $213,000 after buying an additional 10,882 shares during the period. Brookstone Capital Management bought a new position in Keel Infrastructure during the third quarter worth about $49,000. Finally, SBI Securities Co. Ltd. lifted its stake in Keel Infrastructure by 171.1% in the 3rd quarter. SBI Securities Co. Ltd. now owns 248,945 shares of the company’s stock valued at $879,000 after acquiring an additional 157,134 shares in the last quarter. 20.59% of the stock is owned by hedge funds and other institutional investors.

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.