Kolibri Global Energy (NASDAQ:KGEI) Stock Price Down 7.6% – Here’s What Happened

Kolibri Global Energy Inc. (NASDAQ:KGEI) shares dropped 7.6% on Thursday . The stock traded as low as $7.30 and last traded at $7.37. Approximately 89,585 shares traded hands during mid-day trading, a decline of 41% from the average daily volume of 151,941 shares. The stock had previously closed at $7.98.

Wall Street Analysts Forecast Growth

Separately, Roth Mkm boosted their price target on Kolibri Global Energy from $6.75 to $11.00 and gave the company a “buy” rating in a report on Tuesday, February 18th.

Kolibri Global Energy Price Performance

The company has a fifty day simple moving average of $7.53 and a two-hundred day simple moving average of $5.12. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.67 and a current ratio of 0.67. The company has a market capitalization of $270.34 million, a price-to-earnings ratio of 15.88, a P/E/G ratio of 0.81 and a beta of 0.10.

Institutional Trading of Kolibri Global Energy

Institutional investors have recently made changes to their positions in the stock. National Bank of Canada FI purchased a new stake in shares of Kolibri Global Energy during the 3rd quarter valued at $140,000. Millennium Management LLC grew its stake in shares of Kolibri Global Energy by 47.0% during the 4th quarter. Millennium Management LLC now owns 62,992 shares of the company’s stock valued at $335,000 after buying an additional 20,135 shares during the period. 683 Capital Management LLC purchased a new stake in shares of Kolibri Global Energy during the 4th quarter valued at $364,000. Truffle Hound Capital LLC purchased a new stake in shares of Kolibri Global Energy during the 4th quarter valued at $2,660,000. Finally, TFG Asset Management GP Ltd grew its stake in shares of Kolibri Global Energy by 37.7% during the 4th quarter. TFG Asset Management GP Ltd now owns 9,739,635 shares of the company’s stock valued at $51,815,000 after buying an additional 2,669,067 shares during the period. 27.26% of the stock is owned by hedge funds and other institutional investors.

About Kolibri Global Energy

Kolibri Global Energy Inc engages in the finding and exploiting oil, gas, and clean and sustainable energy in the United States. It sells crude oil, natural gas, and natural gas liquids. The company was formerly known as BNK Petroleum Inc and changed its name to Kolibri Global Energy Inc in November 2020.