Kelt Exploration (TSE:KEL) Share Price Crosses Below 200-Day Moving Average – Here’s What Happened

Kelt Exploration Ltd. (TSE:KEL)’s share price crossed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$6.74 and traded as low as C$6.03. Kelt Exploration shares last traded at C$6.06, with a volume of 881,824 shares.

Analyst Ratings Changes

Separately, Royal Bank Of Canada raised their target price on shares of Kelt Exploration from C$8.00 to C$8.50 and gave the stock an “outperform” rating in a report on Monday, June 30th. Two research analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of C$9.88.

Kelt Exploration Stock Down 2.4%

The business’s fifty day moving average is C$6.76 and its two-hundred day moving average is C$6.74. The company has a market cap of C$1.21 billion, a P/E ratio of 16.38 and a beta of -0.35. The company has a debt-to-equity ratio of 4.53, a quick ratio of 0.61 and a current ratio of 0.50.

Insiders Place Their Bets

In related news, Director Raymond Kwan acquired 49,305 shares of the firm’s stock in a transaction that occurred on Monday, August 18th. The stock was bought at an average price of C$6.65 per share, for a total transaction of C$327,878.25. Following the acquisition, the director directly owned 105,755 shares of the company’s stock, valued at C$703,270.75. This represents a 87.34% increase in their position. 15.87% of the stock is owned by insiders.

Kelt Exploration Company Profile

Kelt Exploration Ltd is an oil and gas company that focuses on the exploration, development, and production of crude oil and natural gas in Canada. Assets for production are acquired through the purchase of other corporate entities or through a full-cycle exploration program. Kelt traditionally focuses its exploration activities on areas with multizone hydrocarbon potential in Canada.