Bank of New York Mellon Corp Takes $9.99 Million Position in Keel Infrastructure $KEEL

Key Points

• Bank of New York Mellon acquired 1.74 million Keel Infrastructure shares worth approximately $9.99 million, representing a 0.28% ownership stake.
• Keel Infrastructure reported a quarterly loss of $0.11 per share on $30.43 million in revenue, while its stock opened at $3.11 and has traded between $1.23 and $7.37 over the past year.
• Analysts maintain a generally positive view, with seven Buy ratings, one Sell rating, a “Moderate Buy” consensus, and an average price target of $6.25. Company insiders also purchased 128,545 shares worth about $425,593 during the past 90 days.

Bank of New York Mellon Corp bought a new stake in Keel Infrastructure (NASDAQ:KEEL - Free Report) in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 1,740,330 shares of the company's stock, valued at approximately $9,989,000. Bank of New York Mellon Corp owned 0.28% of Keel Infrastructure as of its most recent SEC filing.

Keel Infrastructure Stock Performance

Shares of NASDAQ KEEL opened at $3.11 on Thursday. The stock has a market cap of $1.92 billion, a price-to-earnings ratio of -10.37 and a beta of 4.06. Keel Infrastructure has a one year low of $1.23 and a one year high of $7.37. The stock's fifty day moving average is $4.08. The company has a quick ratio of 16.10, a current ratio of 16.26 and a debt-to-equity ratio of 3.11.

Keel Infrastructure (NASDAQ:KEEL - Get Free Report) last issued its earnings results 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 return on equity of 66.18% and a negative net margin of 230.59%.During the same quarter in the prior year, the firm earned ($0.05) EPS. On average, sell-side analysts forecast that Keel Infrastructure will post -0.43 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on KEEL shares. BTIG Research began coverage on shares of Keel Infrastructure in a report on Wednesday, July 22nd. They issued a "buy" rating and a $8.00 target price on the stock. HC Wainwright increased their price target on shares of Keel Infrastructure from $3.70 to $5.50 and gave the stock a "buy" rating in a research note on Monday, May 11th. Lake Street Capital set a $5.50 price objective on shares of Keel Infrastructure in a research report on Monday, May 11th. Alliance Global Partners restated a "buy" rating on shares of Keel Infrastructure in a research note on Monday, May 11th. Finally, Chardan Capital reaffirmed a "buy" rating and issued a $5.50 target price 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 given a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $6.25.

Insider Buying and Selling at Keel Infrastructure

In other news, COO Liam Daniel Wilson purchased 30,769 shares of the business's stock in a transaction dated Thursday, August 20th. The stock was acquired at an average price of $3.25 per share, with a total value of $99,999.25. Following the purchase, the chief operating officer directly owned 100,978 shares of the company's stock, valued at $328,178.50. This represents a 43.82% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Benjamin Gagnon acquired 58,888 shares of the firm's stock in a transaction that occurred on Thursday, August 13th. The stock was acquired at an average price of $3.33 per share, for a total transaction of $196,097.04. Following the completion of the transaction, the chief executive officer directly owned 1,347,736 shares in the company, valued at approximately $4,487,960.88. This represents a 4.57% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have bought a total of 128,545 shares of company stock valued at $425,593 in the last ninety days. Corporate insiders own 9.50% 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.

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