Keel Infrastructure (NASDAQ:KEEL) Trading 9.1% Higher – Here’s What Happened

Keel Infrastructure (NASDAQ:KEEL)’s share price rose 9.1% on Tuesday . The stock traded as high as $3.82 and last traded at $3.7850. 15,188,374 shares were traded during mid-day trading, a decline of 61% from the average session volume of 39,050,148 shares. The stock had previously closed at $3.47.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. Citizens Jmp initiated coverage on Keel Infrastructure in a research note on Wednesday, June 24th. They issued an “outperform” rating and a $10.00 price target for the company. Citigroup reiterated a “buy” rating on shares of Keel Infrastructure in a research report on Monday, August 10th. Alliance Global Partners reissued a “buy” rating on shares of Keel Infrastructure in a research note on Monday, May 11th. Lake Street Capital set a $5.50 price target on Keel Infrastructure in a report on Monday, May 11th. Finally, Chardan Capital reaffirmed a “buy” rating and set a $5.50 price objective on shares of Keel Infrastructure in a report on Monday, June 8th. Seven investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $6.25.

Keel Infrastructure Price Performance

The company has a 50-day moving average price of $3.94. The stock has a market cap of $2.37 billion, a P/E ratio of -12.78 and a beta of 4.06. 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 (EPS) for the quarter. The firm had revenue of $30.43 million during the quarter. Keel Infrastructure had a negative return on equity of 66.18% and a negative net margin of 230.59%.During the same quarter last year, the firm posted ($0.05) earnings per share. As a group, research analysts anticipate that Keel Infrastructure will post -0.43 EPS for the current year.

Insiders Place Their Bets

In other Keel Infrastructure news, COO Liam Wilson purchased 30,769 shares of the firm’s stock in a transaction that occurred on Thursday, August 20th. The shares were bought at an average price of $3.25 per share, with a total value of $99,999.25. Following the completion of the purchase, the chief operating officer directly owned 100,978 shares in the company, valued at $328,178.50. This trade represents a 43.82% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Benjamin Gagnon acquired 38,888 shares of the company’s stock in a transaction on Friday, August 21st. The stock was acquired at an average cost of $3.33 per share, with a total value of $129,497.04. Following the completion of the purchase, the chief executive officer directly owned 1,386,624 shares in the company, valued at approximately $4,617,457.92. This represents a 2.89% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last ninety days, insiders have purchased 128,545 shares of company stock worth $425,593. 9.50% of the stock is owned by insiders.

Institutional Investors Weigh In On Keel Infrastructure

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in KEEL. TD Waterhouse Canada Inc. purchased a new position in shares of Keel Infrastructure in the 2nd quarter worth approximately $28,000. Markowski Investments bought a new stake in Keel Infrastructure in the second quarter worth $29,000. Nilsine Partners LLC bought a new stake in Keel Infrastructure in the second quarter worth $110,000. HighTower Advisors LLC purchased a new position in Keel Infrastructure during the second quarter worth $161,000. Finally, Amundi bought a new position in Keel Infrastructure during the second quarter valued at $214,000. 20.59% of the stock is currently owned by hedge funds and other institutional investors.

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.