Keel Infrastructure (NASDAQ:KEEL) Shares Down 16.4% After Earnings Miss

Key Points

• Keel Infrastructure shares fell 16.4% after quarterly EPS came in at a loss of $0.10, missing analyst estimates of a $0.07 loss. Revenue was $27.6 million.
• Analysts maintain a “Moderate Buy” consensus, with eight Buy ratings and one Sell rating; the average price target is $6.21.
• Company insiders bought 128,545 shares worth about $425,600 over the past 90 days.

Keel Infrastructure (NASDAQ:KEEL - Get Free Report) fell 16.4% during trading on Thursday following a weaker than expected earnings announcement. The company traded as low as $1.88 and last traded at $1.7550. Approximately 6,264,966 shares traded hands during trading, a decline of 83% from the average session volume of 37,059,102 shares. The stock had previously closed at $2.10.

The company reported ($0.10) EPS for the quarter, missing analysts' consensus estimates of ($0.07) by ($0.03). Keel Infrastructure had a negative net margin of 230.59% and a negative return on equity of 66.18%. The firm had revenue of $27.60 million for the quarter. During the same quarter last year, the firm posted ($0.02) EPS.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on KEEL. Weiss Ratings reissued a "sell (d-)" rating on shares of Keel Infrastructure in a report on Friday, October 9th. BTIG Research assumed coverage on shares of Keel Infrastructure in a research note on Wednesday, July 22nd. They set a "buy" rating and a $8.00 target price for the company. B. Riley Financial lowered their target price on Keel Infrastructure from $6.00 to $5.00 and set a "buy" rating for the company in a research report on Friday, October 30th. Citigroup restated a "buy" rating on shares of Keel Infrastructure in a research report on Monday, August 10th. Finally, Cantor Fitzgerald cut their price target on shares of Keel Infrastructure from $5.00 to $4.00 and set an "overweight" rating on the stock in a report on Friday, October 16th. Eight analysts have rated the stock with a Buy rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, Keel Infrastructure presently has an average rating of "Moderate Buy" and an average target price of $6.21.

Insider Buying and Selling

In other Keel Infrastructure news, CEO Benjamin Gagnon purchased 58,888 shares of the company's stock in a transaction dated Thursday, August 13th. The shares were acquired at an average price of $3.33 per share, for a total transaction of $196,097.04. Following the completion of the purchase, the chief executive officer owned 1,347,736 shares of the company's stock, valued at approximately $4,487,960.88. The trade was a 4.57% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, COO Liam Wilson bought 30,769 shares of the company's stock in a transaction on Thursday, August 20th. The shares were bought at an average cost of $3.25 per share, for a total transaction of $99,999.25. Following the transaction, the chief operating officer owned 100,978 shares in the company, valued at $328,178.50. The trade was a 43.82% increase in their position. The SEC filing for this purchase provides additional information. In the last ninety days, insiders bought 128,545 shares of company stock worth $425,593. Insiders own 9.50% of the company's stock.

Institutional Trading of Keel Infrastructure

Institutional investors and hedge funds have recently bought and sold shares of the business. Situational Awareness LP purchased a new stake in shares of Keel Infrastructure in the second quarter worth about $151,831,000. State Street Corp purchased a new position in shares of Keel Infrastructure in the second quarter valued at approximately $78,100,000. Bank of New York Mellon Corp acquired a new stake in Keel Infrastructure during the 2nd quarter worth $9,989,000. Tidal Investments LLC purchased a new stake in Keel Infrastructure during the 2nd quarter valued at about $3,213,000. Finally, Chicago Partners Investment Group LLC purchased a new position in Keel Infrastructure during the third quarter worth approximately $719,000. 20.59% of the stock is currently owned by institutional investors and hedge funds.

Keel Infrastructure Price Performance

The stock's fifty day moving average is $3.10 and its 200-day moving average is $3.90. The stock has a market cap of $1.06 billion, a PE ratio of -5.80 and a beta of 4.10. The company has a debt-to-equity ratio of 3.11, a current ratio of 16.26 and a quick ratio of 16.10.

About Keel Infrastructure

Bitfarms Ltd. is a bitcoin mining company. It provides vertically integrated mining operations with onsite technical repair, proprietary data analytics and Company-owned electrical engineering and installation services to deliver operational performance and uptime. Bitfarms Ltd. is based in TORONTO, Ontario.

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