Kelt Exploration (TSE:KEL) Shares Pass Below 200-Day Moving Average - Time to Sell?

Key Points

• Kelt Exploration Ltd. shares have fallen below their 200-day moving average, trading as low as C$6.72, raising concerns among investors.
• The Royal Bank of Canada has upgraded Kelt’s price target from C$8.00 to C$8.50, maintaining an "outperform" rating.
• Recent insider activity includes a purchase of 56,450 shares by Director Raymond Kwan, indicating confidence in the stock's potential.

Kelt Exploration Ltd. (TSE:KEL - Get Free Report) passed below its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of C$6.74 and traded as low as C$6.72. Kelt Exploration shares last traded at C$6.76, with a volume of 189,490 shares trading hands.

Analyst Upgrades and Downgrades

Separately, Royal Bank Of Canada raised their price target 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. Three investment analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, Kelt Exploration has a consensus rating of "Buy" and a consensus target price of C$9.88.

Kelt Exploration Price Performance

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 company has a market capitalization of C$1.35 billion, a P/E ratio of 18.27 and a beta of -0.10. The business's fifty day moving average price is C$6.89 and its 200-day moving average price is C$6.74.

Insider Activity

In related news, Director Raymond Kwan purchased 56,450 shares of Kelt Exploration stock in a transaction that occurred on Friday, August 15th. The shares were bought at an average price of C$6.65 per share, for a total transaction of C$375,392.50. Following the completion of the transaction, the director directly owned 56,450 shares of the company's stock, valued at C$375,392.50. This represents a ∞ increase in their ownership of the stock. Also, Senior Officer Douglas Owen Macarthur sold 13,000 shares of the company's stock in a transaction dated Friday, July 18th. The stock was sold at an average price of C$7.94, for a total transaction of C$103,220.00. 15.87% of the stock is 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.

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