Kelt Exploration (TSE:KEL) Stock Crosses Below Two Hundred Day Moving Average – What’s Next?

Kelt Exploration Ltd. (TSE:KEL) passed below its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of C$6.74 and traded as low as C$6.03. Kelt Exploration shares last traded at C$6.06, with a volume of 881,824 shares changing hands.

Analyst Ratings Changes

Separately, Royal Bank Of Canada raised their target price on shares of Kelt Exploration from C$8.00 to C$8.50 and gave the company an “outperform” rating in a research report on Monday, June 30th. Two research analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of C$9.88.

Kelt Exploration Stock Down 2.4%

The company has a current ratio of 0.50, a quick ratio of 0.61 and a debt-to-equity ratio of 4.53. The firm has a market cap of C$1.21 billion, a PE ratio of 16.38 and a beta of -0.35. The business’s 50-day simple moving average is C$6.76 and its 200 day simple moving average is C$6.74.

Insider Activity

In other news, Director Raymond Kwan acquired 56,450 shares of the business’s stock in a transaction dated Friday, August 15th. The shares were purchased at an average price of C$6.65 per share, with a total value of C$375,392.50. Following the transaction, the director directly owned 56,450 shares in the company, valued at approximately C$375,392.50. This represents a ∞ increase in their ownership of the stock. 15.87% of the stock is currently owned by insiders.

Kelt Exploration Company Profile

Kelt Exploration Ltd is an oil and gas company that focuses on the exploration, development, and production of crude oil and natural gas in Canada. Assets for production are acquired through the purchase of other corporate entities or through a full-cycle exploration program. Kelt traditionally focuses its exploration activities on areas with multizone hydrocarbon potential in Canada.