Kelt Exploration (TSE:KEL) Stock Price Crosses Above 200 Day Moving Average - Here's What Happened

Key Points

• Kelt Exploration Ltd.'s stock price recently surpassed its 200-day moving average of C$6.69, indicating potential upward momentum as it traded as high as C$7.18.
• Wall Street analysts have mixed outlooks on Kelt Exploration, with price targets ranging from C$8.50 to C$11.50, reflecting varying levels of confidence in the company's performance.
• Insider sales were noted, with Senior Officer Douglas Owen Macarthur selling 13,000 shares for a total of C$103,220, suggesting a potential shift in insider sentiment.

Kelt Exploration Ltd. (TSE:KEL - Get Free Report)'s stock price passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of C$6.69 and traded as high as C$7.18. Kelt Exploration shares last traded at C$6.98, with a volume of 473,421 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, Royal Bank Of Canada upped their price objective on shares of Kelt Exploration from C$8.00 to C$8.50 and gave the stock an "outperform" rating in a report on Monday, June 30th.

Kelt Exploration Stock Performance

The stock has a market cap of C$1.32 billion, a price-to-earnings ratio of 23.64 and a beta of 1.93. The firm has a fifty day simple moving average of C$7.33 and a 200 day simple moving average of C$6.68. The company has a current ratio of 0.50, a quick ratio of 0.61 and a debt-to-equity ratio of 4.53.

Insider Activity at Kelt Exploration

In other news, Senior Officer Douglas Owen Macarthur sold 13,000 shares of the company's stock in a transaction dated Friday, July 18th. The shares were sold at an average price of C$7.94, for a total value of C$103,220.00. 15.87% of the stock is owned by company 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.