Keel Infrastructure (NASDAQ:KEEL) Shares Gap Up – Here’s Why

Keel Infrastructure (NASDAQ:KEEL) gapped up prior to trading on Monday. The stock had previously closed at $2.31, but opened at $2.45. Keel Infrastructure shares last traded at $2.3550, with a volume of 3,214,640 shares changing hands.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. Citigroup reiterated a “buy” rating on shares of Keel Infrastructure in a report on Monday, August 10th. Weiss Ratings reissued a “sell (d-)” rating on shares of Keel Infrastructure in a research report on Friday, October 9th. Citizens Jmp initiated coverage on shares of Keel Infrastructure in a research note on Wednesday, June 24th. They set an “outperform” rating and a $10.00 price objective for the company. BTIG Research assumed coverage on shares of Keel Infrastructure in a report on Wednesday, July 22nd. They issued a “buy” rating and a $8.00 price objective on the stock. Finally, Cantor Fitzgerald dropped their price objective on shares of Keel Infrastructure from $5.00 to $4.00 and set an “overweight” rating on the stock in a report on Friday, October 16th. Seven analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $6.42.

Keel Infrastructure Stock Performance

The business has a 50-day moving average price of $3.36. The company has a debt-to-equity ratio of 3.11, a current ratio of 16.26 and a quick ratio of 16.10.

Keel Infrastructure (NASDAQ:KEEL) last released its quarterly earnings data on Monday, August 10th. The company reported ($0.11) earnings per share 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 firm earned ($0.05) EPS. Equities analysts anticipate that Keel Infrastructure will post -0.42 earnings per share for the current fiscal year.

Insider Activity

In related news, COO Liam Wilson purchased 30,769 shares of Keel Infrastructure 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 owned 100,978 shares in the company, valued at $328,178.50. The trade was a 43.82% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Benjamin Gagnon purchased 38,888 shares of the firm’s stock in a transaction on Friday, August 21st. The stock was bought at an average cost of $3.33 per share, with a total value of $129,497.04. Following the completion of the acquisition, the chief executive officer directly owned 1,386,624 shares of the company’s stock, valued at $4,617,457.92. This trade represents a 2.89% increase in their position. The SEC filing for this purchase provides additional information. Over the last ninety days, insiders have purchased 128,545 shares of company stock worth $425,593. 9.50% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Keel Infrastructure

Several hedge funds have recently bought and sold shares of the stock. SteelPeak Wealth LLC purchased a new position in shares of Keel Infrastructure during the 3rd quarter valued at approximately $263,000. TD Waterhouse Canada Inc. lifted its stake in shares of Keel Infrastructure by 1,923.6% in the 3rd quarter. TD Waterhouse Canada Inc. now owns 105,409 shares of the company’s stock valued at $360,000 after purchasing an additional 100,200 shares during the period. SLT Holdings LLC acquired a new position in shares of Keel Infrastructure in the 3rd quarter valued at $90,000. Farther Finance Advisors LLC lifted its stake in shares of Keel Infrastructure by 268.0% in the 3rd quarter. Farther Finance Advisors LLC now owns 13,285 shares of the company’s stock valued at $47,000 after purchasing an additional 9,675 shares during the period. Finally, State Street Corp purchased a new stake in Keel Infrastructure during the second quarter worth $78,100,000. Hedge funds and other institutional investors own 20.59% of the company’s stock.

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.