Keel Infrastructure (NASDAQ:KEEL) Shares Down 5% – What’s Next?

Keel Infrastructure (NASDAQ:KEEL) shares fell 5% on Tuesday. The stock traded as low as $2.77 and last traded at $2.8030. 6,372,882 shares traded hands during trading, a decline of 83% from the average session volume of 37,766,762 shares. The stock had previously closed at $2.95.

Wall Street Analyst Weigh In

KEEL has been the topic of a number of recent research reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Keel Infrastructure in a research note on Friday. Citizens Jmp started coverage on Keel Infrastructure in a research note on Wednesday, June 24th. They issued an “outperform” rating and a $10.00 target price on the stock. Citigroup reaffirmed a “buy” rating on shares of Keel Infrastructure in a research note on Monday, August 10th. Finally, BTIG Research initiated coverage on shares of Keel Infrastructure in a report on Wednesday, July 22nd. They set a “buy” rating and a $8.00 target price on the stock. Seven equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $6.25.

Keel Infrastructure Trading Down 3.9%

The company has a debt-to-equity ratio of 3.11, a quick ratio of 16.10 and a current ratio of 16.26. The stock has a market capitalization of $1.75 billion, a PE ratio of -9.45 and a beta of 4.00. The firm has a 50-day moving average of $3.51.

Keel Infrastructure (NASDAQ:KEEL) last posted its earnings results on Monday, August 10th. The company reported ($0.11) EPS for the quarter. The firm 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 last year, the firm earned ($0.05) earnings per share. As a group, analysts predict that Keel Infrastructure will post -0.42 earnings per share for the current year.

Insider Buying and Selling

In related news, COO Liam Wilson bought 30,769 shares of the 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 purchase, the chief operating officer directly owned 100,978 shares of the company’s stock, valued at approximately $328,178.50. This trade represents a 43.82% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Benjamin Gagnon acquired 38,888 shares of the company’s stock in a transaction dated Friday, August 21st. The shares were bought at an average cost of $3.33 per share, for a total transaction 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 approximately $4,617,457.92. The trade was a 2.89% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders purchased a total of 128,545 shares of company stock valued at $425,593 over the last quarter. 9.50% of the stock is owned by company insiders.

Hedge Funds Weigh In On Keel Infrastructure

A number of institutional investors have recently modified their holdings of KEEL. 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. State Street Corp purchased a new position in shares of Keel Infrastructure in the second quarter valued at approximately $78,100,000. The Manufacturers Life Insurance Company acquired a new stake in Keel Infrastructure during the 2nd quarter worth $1,123,000. Tidal Investments LLC acquired a new position in Keel Infrastructure during the second quarter worth about $3,213,000. Finally, Engineers Gate Manager LP purchased a new stake in shares of Keel Infrastructure in the second quarter valued at approximately $309,000. 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.