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Kelt Exploration (TSE:KEL) Share Price Passes Below 200 Day Moving Average - Time to Sell?

Kelt Exploration logo with Energy background

Kelt Exploration Ltd. (TSE:KEL - Get Free Report)'s share price passed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$6.48 and traded as low as C$6.12. Kelt Exploration shares last traded at C$6.28, with a volume of 398,964 shares traded.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on KEL shares. CIBC cut their price target on Kelt Exploration from C$11.50 to C$10.75 in a research note on Thursday, April 10th. Raymond James set a C$9.50 price target on Kelt Exploration and gave the stock an "outperform" rating in a research note on Tuesday, April 8th. National Bankshares upped their price target on Kelt Exploration from C$9.00 to C$10.00 and gave the stock an "outperform" rating in a research note on Thursday, January 30th. Finally, Scotiabank upped their price target on Kelt Exploration from C$10.50 to C$11.50 in a research note on Friday, January 17th.

Read Our Latest Stock Report on Kelt Exploration

Kelt Exploration Trading Up 1.3%

The firm has a 50 day simple moving average of C$6.03 and a 200 day simple moving average of C$6.48. 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 capitalization of C$1.24 billion, a PE ratio of 22.26 and a beta of 1.93.

Insider Buying and Selling at Kelt Exploration

In other news, Senior Officer Patrick William George Miles sold 25,000 shares of the stock in a transaction on Monday, March 24th. The stock was sold at an average price of C$6.68, for a total transaction of C$167,000.00. Also, Senior Officer Douglas Owen Macarthur sold 45,000 shares of the stock in a transaction on Wednesday, March 19th. The shares were sold at an average price of C$6.50, for a total value of C$292,500.00. In the last three months, insiders have sold 120,856 shares of company stock worth $801,568. Insiders own 15.87% of the company's stock.

About Kelt Exploration

(Get Free Report)

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.

Further Reading

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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