Kiwetinohk Energy (TSE:KEC) Shares Down 0.9% - Here's What Happened

Key Points

• Kiwetinohk Energy Corp. shares experienced a decline of 0.9%, trading at C$23.52 with an average volume decline of 81% from previous trading days.
• Analyst reports indicate a consensus rating of "Buy" with a revised average price target of C$22.00 from multiple research institutions.
• Insider buying activity has been notable, with directors purchasing a total of 65,542 shares worth approximately C$1.35 million in recent months.

Kiwetinohk Energy Corp. (TSE:KEC - Get Free Report) shares traded down 0.9% during mid-day trading on Monday . The company traded as low as C$23.45 and last traded at C$23.52. 2,895 shares traded hands during mid-day trading, a decline of 81% from the average session volume of 15,460 shares. The stock had previously closed at C$23.73.

Analyst Ratings Changes

Separately, Royal Bank Of Canada boosted their target price on shares of Kiwetinohk Energy from C$18.00 to C$21.00 and gave the company an "outperform" rating in a research report on Monday, June 30th. Two equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock has an average rating of "Buy" and an average target price of C$22.00.

Kiwetinohk Energy Stock Performance

The business has a 50-day simple moving average of C$22.96 and a 200 day simple moving average of C$18.76. The company has a debt-to-equity ratio of 33.50, a current ratio of 0.82 and a quick ratio of 0.48. The firm has a market cap of C$1.04 billion, a PE ratio of 8.14 and a beta of 0.61.

Insider Activity at Kiwetinohk Energy

In other news, Senior Officer Lisa Wong purchased 2,000 shares of the company's stock in a transaction on Friday, June 27th. The stock was acquired at an average cost of C$20.77 per share, for a total transaction of C$41,545.00. Also, Senior Officer Janet Annesley acquired 2,500 shares of Kiwetinohk Energy stock in a transaction dated Friday, July 4th. The stock was purchased at an average cost of C$22.45 per share, with a total value of C$56,117.50. Insiders have purchased 65,542 shares of company stock worth $1,353,755 in the last 90 days. Insiders own 14.72% of the company's stock.

Kiwetinohk Energy Company Profile

Kiwetinohk Energy Corp develops and produces natural gas and related products and is in the process of developing renewable, natural gas-fired power, carbon capture and hydrogen clean energy projects.