Keel Infrastructure (NASDAQ:KEEL) Trading 8.4% Higher Following Insider Buying Activity

Key Points

• Keel Infrastructure shares rose 8.4% after CEO Benjamin Gagnon purchased 58,888 shares for approximately $196,000, increasing his direct ownership by 4.57%.
• Analyst sentiment is broadly positive: seven analysts rate the stock a Buy and one rates it a Sell, resulting in a consensus “Moderate Buy” rating and a $6.25 target price.
• The company reported a quarterly loss of $0.11 per share on $30.43 million in revenue, alongside a negative net margin of 230.59%; Bank of New York Mellon also disclosed a new position of 1.74 million shares.

Keel Infrastructure (NASDAQ:KEEL - Get Free Report) traded up 8.4% during mid-day trading on Monday after an insider bought additional shares in the company. The company traded as high as $3.89 and last traded at $3.8050. Approximately 10,192,837 shares traded hands during trading, a decline of 74% from the average session volume of 38,909,551 shares. The stock had previously closed at $3.51.

Specifically, CEO Benjamin Gagnon purchased 58,888 shares of the firm's stock in a transaction that occurred on Thursday, August 13th. The stock was bought at an average cost of $3.33 per share, for a total transaction of $196,097.04. Following the purchase, the chief executive officer directly owned 1,347,736 shares in the company, valued at $4,487,960.88. The trade was a 4.57% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Wall Street Analyst Weigh In

Several research firms recently commented on KEEL. Chardan Capital reissued a "buy" rating and set a $5.50 price objective on shares of Keel Infrastructure in a research note on Monday, June 8th. Weiss Ratings restated a "sell (d-)" rating on shares of Keel Infrastructure in a research note on Monday, July 13th. Lake Street Capital set a $5.50 price objective on Keel Infrastructure in a research report on Monday, May 11th. HC Wainwright lifted their price objective on Keel Infrastructure from $3.70 to $5.50 and gave the company a "buy" rating in a research note on Monday, May 11th. Finally, Alliance Global Partners reissued a "buy" rating on shares of Keel Infrastructure in a report on Monday, May 11th. Seven investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $6.25.

Keel Infrastructure Stock Up 6.7%

The stock has a market cap of $2.31 billion, a PE ratio of -26.76 and a beta of 4.14. 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 company's fifty day moving average is $4.76.

Keel Infrastructure (NASDAQ:KEEL - Get Free Report) last announced its quarterly earnings data on Monday, August 10th. The company reported ($0.11) earnings per share 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 period in the prior year, the firm posted ($0.05) EPS. On average, equities research analysts expect that Keel Infrastructure will post -0.43 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Keel Infrastructure stock. Bank of New York Mellon Corp purchased a new stake in shares of Keel Infrastructure (NASDAQ:KEEL - Free Report) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 1,740,330 shares of the company's stock, valued at approximately $9,989,000. Bank of New York Mellon Corp owned approximately 0.28% of Keel Infrastructure at the end of the most recent reporting period. Institutional investors own 20.59% of the company's stock.

Keel Infrastructure Company Profile

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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