Kelt Exploration (TSE:KEL) Stock Passes Below Two Hundred Day Moving Average - Here's What Happened

Key Points

• Kelt Exploration's stock has fallen below its 200-day moving average of C$6.65, indicating potential selling pressure, with recent trading as low as C$6.53.
• Analysts from the Royal Bank of Canada have upgraded their price target for Kelt Exploration from C$8.00 to C$8.50, maintaining an "outperform" rating, while the average target price from analysts remains at C$9.88.
• Insider trading activity included Senior Officer Douglas Owen Macarthur selling 13,000 shares at an average price of C$7.94, totaling over C$100,000, and insiders currently own about 15.87% of the company’s stock.

Shares of Kelt Exploration Ltd. (TSE:KEL - Get Free Report) crossed below its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of C$6.65 and traded as low as C$6.53. Kelt Exploration shares last traded at C$6.74, with a volume of 208,893 shares traded.

Analyst Ratings Changes

Separately, Royal Bank Of Canada lifted their price objective on Kelt Exploration from C$8.00 to C$8.50 and gave the stock an "outperform" rating in a research report on Monday, June 30th. Three equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus price target 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 firm has a market cap of C$1.37 billion, a P/E ratio of 24.46 and a beta of 1.93. The company has a fifty day moving average price of C$7.22 and a two-hundred day moving average price of C$6.66.

Insider Buying and Selling at Kelt Exploration

In other Kelt Exploration news, Senior Officer Douglas Owen Macarthur sold 13,000 shares of the business's stock in a transaction that occurred on Friday, July 18th. The stock was 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.