Kelt Exploration Ltd. (OTCMKTS:KELTF) Sees Significant Increase in Short Interest

Kelt Exploration Ltd. (OTCMKTS:KELTF) was the recipient of a significant increase in short interest in June. As of June 30th, there was short interest totaling 2,970,096 shares, an increase of 386.6% from the June 15th total of 610,362 shares. Based on an average trading volume of 90,093 shares, the short-interest ratio is currently 33.0 days.

Kelt Exploration Price Performance

KELTF stock traded up $0.29 during trading hours on Monday, reaching $6.90. 3,600 shares of the stock were exchanged, compared to its average volume of 58,874. The firm’s 50-day moving average is $6.80 and its 200-day moving average is $6.35. Kelt Exploration has a 12 month low of $4.35 and a 12 month high of $8.24.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on KELTF shares. BMO Capital Markets restated an “outperform” rating on shares of Kelt Exploration in a report on Friday, May 8th. Canadian Imperial Bank of Commerce reiterated an “outperform” rating on shares of Kelt Exploration in a research report on Friday. Four research analysts have rated the stock with a Buy rating, According to MarketBeat, Kelt Exploration presently has an average rating of “Buy”.

Kelt Exploration Company Profile

Kelt Exploration Ltd. is a Calgary-based oil and gas company engaged in the exploration, development and production of petroleum and natural gas reserves in Western Canada. Using horizontal drilling and multi-stage fracturing techniques, the company targets light oil and natural gas liquids in unconventional resource plays. Kelt’s business model emphasizes cost efficiency and disciplined capital allocation to maximize value from its asset base.

The company’s core holdings are concentrated in the Montney and Deep Basin resource plays of West Central and Northern Alberta.