Keel Infrastructure $KEEL Shares Newly Bought by State Street Corp

Key Points

• State Street acquired 13.6 million Keel Infrastructure shares worth approximately $78.1 million, giving it a 2.2% stake. Institutional investors and hedge funds collectively own 20.59% of the company.
• Analyst sentiment is largely positive, with seven Buy ratings and one Sell rating. Keel has an average “Moderate Buy” rating and a consensus price target of $6.25, versus a reported share price of $3.90.
• Keel reported a quarterly loss of $0.11 per share on $30.43 million in revenue, while CEO Benjamin Gagnon and COO Liam Wilson purchased shares recently. Insiders bought 128,545 shares worth $425,593 over the last three months.

State Street Corp acquired a new stake in Keel Infrastructure (NASDAQ:KEEL - Free Report) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 13,606,205 shares of the company's stock, valued at approximately $78,100,000. State Street Corp owned approximately 2.20% of Keel Infrastructure at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in KEEL. The Manufacturers Life Insurance Company purchased a new position in shares of Keel Infrastructure during the 2nd quarter valued at approximately $1,123,000. Tidal Investments LLC purchased a new stake in Keel Infrastructure in the 2nd quarter worth $3,213,000. Engineers Gate Manager LP acquired a new position in Keel Infrastructure during the second quarter worth $309,000. RFG Advisory LLC acquired a new position in shares of Keel Infrastructure during the 2nd quarter worth about $287,000. Finally, NewEdge Advisors LLC acquired a new position in shares of Keel Infrastructure during the 2nd quarter worth about $31,000. 20.59% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

KEEL has been the subject of several research reports. Citigroup reiterated a "buy" rating on shares of Keel Infrastructure in a research note on Monday, August 10th. Chardan Capital reiterated a "buy" rating and set a $5.50 price target on shares of Keel Infrastructure in a research report on Monday, June 8th. Weiss Ratings reissued a "sell (d-)" rating on shares of Keel Infrastructure in a research note on Monday, July 13th. Citizens Jmp initiated coverage on Keel Infrastructure in a report on Wednesday, June 24th. They issued an "outperform" rating and a $10.00 price objective on the stock. 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 for the company. Seven equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Keel Infrastructure presently has an average rating of "Moderate Buy" and an average price target of $6.25.

Keel Infrastructure Stock Performance

NASDAQ:KEEL opened at $3.90 on Friday. Keel Infrastructure has a one year low of $1.68 and a one year high of $7.37. The firm has a market capitalization of $2.41 billion, a PE ratio of -13.00 and a beta of 4.06. 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 firm has a 50 day moving average of $3.69.

Keel Infrastructure (NASDAQ:KEEL - Get Free Report) last issued its earnings results on Monday, August 10th. The company reported ($0.11) earnings per share (EPS) for the quarter. Keel Infrastructure had a negative net margin of 230.59% and a negative return on equity of 66.18%. The company had revenue of $30.43 million during the quarter. During the same period in the prior year, the firm posted ($0.05) EPS. As a group, analysts predict that Keel Infrastructure will post -0.43 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Benjamin Gagnon acquired 58,888 shares of the business's stock in a transaction that occurred on Thursday, August 13th. The stock was purchased at an average cost of $3.33 per share, for a total transaction of $196,097.04. Following the completion of the transaction, the chief executive officer owned 1,347,736 shares in the company, valued at approximately $4,487,960.88. This trade represents a 4.57% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, COO Liam Wilson bought 30,769 shares of the firm's stock in a transaction on Thursday, August 20th. The stock was purchased at an average price of $3.25 per share, for a total transaction of $99,999.25. Following the completion of the acquisition, the chief operating officer directly 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. Additional details regarding this purchase are available in the official SEC disclosure. In the last three months, insiders have bought 128,545 shares of company stock worth $425,593. 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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