Keel Infrastructure (NASDAQ:KEEL) Stock Price Down 8.5% - Here's Why

Key Points

• Keel Infrastructure shares fell 8.5% to $1.785 on Friday, with trading volume about 83% below its average.
• The company reported a quarterly loss of $0.10 per share, missing analysts’ estimate of a $0.07 loss; revenue was $27.6 million.
• Several analysts lowered their price targets, though the consensus rating remains Moderate Buy with a $5.41 target. Insiders have also purchased 84,657 shares over the past three months.

Keel Infrastructure (NASDAQ:KEEL - Get Free Report)'s stock price was down 8.5% during trading on Friday. The stock traded as low as $1.77 and last traded at $1.7850. Approximately 6,436,046 shares traded hands during mid-day trading, a decline of 83% from the average daily volume of 36,976,219 shares. The stock had previously closed at $1.95.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. Cantor Fitzgerald dropped their price objective on shares of Keel Infrastructure from $5.00 to $4.00 and set an "overweight" rating on the stock in a research report on Friday, October 16th. The Goldman Sachs Group initiated coverage on shares of Keel Infrastructure in a report on Friday, November 6th. They set a "neutral" rating and a $2.00 target price for the company. HC Wainwright reduced their target price on shares of Keel Infrastructure from $4.00 to $3.25 and set a "buy" rating for the company in a report on Thursday, November 5th. B. Riley Financial decreased their price target on shares of Keel Infrastructure from $6.00 to $5.00 and set a "buy" rating on the stock in a research note on Friday, October 30th. Finally, Citigroup reissued a "buy" rating on shares of Keel Infrastructure in a report on Monday, August 10th. Eight equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $5.41.

Keel Infrastructure Price Performance

The company has a current ratio of 12.13, a quick ratio of 12.00 and a debt-to-equity ratio of 3.74. The company has a 50 day moving average of $2.94 and a 200-day moving average of $3.82. The firm has a market capitalization of $1.13 billion, a P/E ratio of -4.83 and a beta of 4.10.

Keel Infrastructure (NASDAQ:KEEL - Get Free Report) last posted its quarterly earnings data on Thursday, November 5th. The company reported ($0.10) earnings per share for the quarter, missing the consensus estimate of ($0.07) by ($0.03). Keel Infrastructure had a negative return on equity of 102.27% and a negative net margin of 309.79%. The firm had revenue of $27.60 million for the quarter. During the same quarter last year, the firm earned ($0.02) EPS. On average, sell-side analysts predict that Keel Infrastructure will post -0.43 EPS for the current year.

Insider Activity at Keel Infrastructure

In other Keel Infrastructure news, Director Edith Hofmeister acquired 15,000 shares of the company's stock in a transaction on Monday, November 9th. The stock was acquired at an average price of $1.89 per share, for a total transaction of $28,350.00. Following the purchase, the director directly owned 255,001 shares of the company's stock, valued at $481,951.89. This trade represents a 6.25% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, COO Liam Wilson acquired 30,769 shares of the business's stock in a transaction on Thursday, August 20th. The stock was acquired at an average cost of $3.25 per share, with a total value of $99,999.25. Following the acquisition, the chief operating officer directly owned 100,978 shares in the company, valued at approximately $328,178.50. This trade represents a 43.82% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last three months, insiders have acquired 84,657 shares of company stock worth $257,846. Corporate insiders own 9.50% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Situational Awareness LP acquired a new stake in shares of Keel Infrastructure in the second quarter valued at approximately $151,831,000. State Street Corp bought a new stake 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 second quarter worth approximately $9,989,000. Banco Santander S.A. grew its position in Keel Infrastructure by 2,449.6% during the third quarter. Banco Santander S.A. now owns 1,092,865 shares of the company's stock worth $3,858,000 after buying an additional 1,050,000 shares in the last quarter. Finally, Tidal Investments LLC acquired a new stake in Keel Infrastructure during the second quarter worth approximately $3,213,000. Institutional investors and hedge funds own 20.59% of the company's stock.

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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