Keel Infrastructure (NASDAQ:KEEL) Trading 9.1% Higher – Here’s What Happened

Keel Infrastructure (NASDAQ:KEEL) shares rose 9.1% during trading on Tuesday . The stock traded as high as $3.82 and last traded at $3.7850. Approximately 15,188,374 shares traded hands during mid-day trading, a decline of 61% from the average session volume of 39,050,148 shares. The stock had previously closed at $3.47.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on KEEL shares. Citizens Jmp assumed coverage on Keel Infrastructure in a research note on Wednesday, June 24th. They set an “outperform” rating and a $10.00 price target on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of Keel Infrastructure in a report on Monday, July 13th. Chardan Capital reaffirmed a “buy” rating and set a $5.50 target price on shares of Keel Infrastructure in a research report on Monday, June 8th. BTIG Research initiated coverage on Keel Infrastructure in a report on Wednesday, July 22nd. They issued a “buy” rating and a $8.00 target price on the stock. Finally, Citigroup reissued a “buy” rating on shares of Keel Infrastructure in a research report on Monday, August 10th. Seven research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $6.25.

Keel Infrastructure Stock Performance

The firm has a market cap of $2.29 billion, a P/E ratio of -12.37 and a beta of 4.06. The company has a current ratio of 16.26, a quick ratio of 16.10 and a debt-to-equity ratio of 3.11. The company has a fifty day moving average price of $3.86.

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

Insider Activity at Keel Infrastructure

In related news, CEO Benjamin Gagnon purchased 58,888 shares of the stock in a transaction that occurred on Thursday, August 13th. The stock was acquired at an average cost of $3.33 per share, with a total value of $196,097.04. Following the transaction, the chief executive officer owned 1,347,736 shares of the company’s stock, valued at $4,487,960.88. This represents a 4.57% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Liam Wilson acquired 30,769 shares of the company’s stock in a transaction on Thursday, August 20th. The shares were bought at an average price of $3.25 per share, for a total transaction of $99,999.25. Following the completion of the purchase, the chief operating officer owned 100,978 shares in the company, valued at approximately $328,178.50. This represents a 43.82% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. In the last ninety days, insiders have purchased 128,545 shares of company stock worth $425,593. 9.50% of the stock is owned by insiders.

Hedge Funds Weigh In On Keel Infrastructure

Hedge funds have recently bought and sold shares of the company. TD Waterhouse Canada Inc. purchased a new stake in shares of Keel Infrastructure in the second quarter valued at about $28,000. Markowski Investments purchased a new position in Keel Infrastructure during the second quarter worth about $29,000. NewEdge Advisors LLC bought a new stake in Keel Infrastructure in the 2nd quarter worth about $31,000. GFG Capital LLC bought a new stake in Keel Infrastructure in the 2nd quarter worth about $82,000. Finally, Nilsine Partners LLC purchased a new stake in Keel Infrastructure in the 2nd quarter valued at about $110,000. 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.