Keel Infrastructure (NASDAQ:KEEL) Shares Down 8.5% – Should You Sell?

Keel Infrastructure (NASDAQ:KEEL)’s share price dropped 8.5% during trading on Friday. The company traded as low as $1.77 and last traded at $1.7850. 6,436,046 shares changed hands during trading, a decline of 83% from the average session volume of 36,976,219 shares. The stock had previously closed at $1.95.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on KEEL shares. Weiss Ratings reissued a “sell (d-)” rating on shares of Keel Infrastructure in a research note on Friday, October 9th. B. Riley Financial decreased their price target on shares of Keel Infrastructure from $6.00 to $5.00 and set a “buy” rating on the stock in a research note on Friday, October 30th. The Goldman Sachs Group began coverage on shares of Keel Infrastructure in a research note on Friday, November 6th. They set a “neutral” rating and a $2.00 price target on the stock. Citigroup reiterated a “buy” rating on shares of Keel Infrastructure in a report on Monday, August 10th. Finally, HC Wainwright cut their price objective on shares of Keel Infrastructure from $4.00 to $3.25 and set a “buy” rating for the company in a research report on Thursday, November 5th. Eight research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Keel Infrastructure has a consensus rating of “Moderate Buy” and an average price target of $5.41.

Keel Infrastructure Price Performance

The company has a 50-day moving average of $2.91 and a two-hundred day moving average of $3.80. The stock has a market capitalization of $1.15 billion, a PE ratio of -4.89 and a beta of 4.10. The company has a debt-to-equity ratio of 3.74, a current ratio of 12.13 and a quick ratio of 12.00.

Keel Infrastructure (NASDAQ:KEEL) last issued its quarterly earnings results on Thursday, November 5th. The company reported ($0.10) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.03). The business had revenue of $27.60 million during the quarter. Keel Infrastructure had a negative return on equity of 102.27% and a negative net margin of 309.79%. During the same quarter last year, the firm posted ($0.02) earnings per share. Sell-side analysts predict that Keel Infrastructure will post -0.43 EPS for the current fiscal year.

Insider Activity at Keel Infrastructure

In related news, CEO Benjamin Gagnon bought 38,888 shares of the firm’s stock in a transaction that occurred on Friday, August 21st. The shares were acquired at an average cost of $3.33 per share, with a total value of $129,497.04. Following the completion of the transaction, the chief executive officer owned 1,386,624 shares of the company’s stock, valued at approximately $4,617,457.92. The trade was a 2.89% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, COO Liam Wilson bought 30,769 shares of the firm’s stock in a transaction that occurred on Thursday, August 20th. The stock was bought at an average cost of $3.25 per share, for a total transaction of $99,999.25. Following the completion of the transaction, the chief operating officer directly owned 100,978 shares of the company’s stock, valued at approximately $328,178.50. The trade was a 43.82% increase in their position. The SEC filing for this purchase provides additional information. In the last 90 days, insiders have acquired 124,657 shares of company stock valued at $333,946. Insiders own 9.50% of the company’s stock.

Institutional Trading of Keel Infrastructure

Institutional investors and hedge funds have recently made changes to their positions in the company. Situational Awareness LP acquired a new position in Keel Infrastructure in the second quarter valued at $151,831,000. State Street Corp acquired a new position in shares of Keel Infrastructure during the 2nd quarter valued at $78,100,000. Bank of New York Mellon Corp acquired a new position in shares of Keel Infrastructure during the 2nd quarter valued at $9,989,000. Banco Santander S.A. lifted its holdings in shares of Keel Infrastructure by 2,449.6% during the 3rd quarter. Banco Santander S.A. now owns 1,092,865 shares of the company’s stock valued at $3,858,000 after acquiring an additional 1,050,000 shares in the last quarter. Finally, Marshall Wace LLP purchased a new stake in Keel Infrastructure during the 3rd quarter worth $2,768,000. 20.59% of the stock is currently owned by institutional investors and hedge funds.

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.