Kelt Exploration (TSE:KEL) Stock Passes Above 200-Day Moving Average – Here’s Why

Kelt Exploration Ltd. (TSE:KEL)’s share price passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$6.51 and traded as high as C$6.98. Kelt Exploration shares last traded at C$6.96, with a volume of 472,656 shares changing hands.

Analyst Upgrades and Downgrades

KEL has been the topic of several research analyst reports. Raymond James set a C$9.50 price objective on Kelt Exploration and gave the company an “outperform” rating in a research report on Tuesday, April 8th. CIBC lowered their price objective on Kelt Exploration from C$11.50 to C$10.75 in a research report on Thursday, April 10th.

Kelt Exploration Stock Performance

The company has a debt-to-equity ratio of 4.53, a current ratio of 0.50 and a quick ratio of 0.61. The business has a 50-day simple moving average of C$6.11 and a 200-day simple moving average of C$6.51. The firm has a market capitalization of C$1.38 billion, a PE ratio of 24.67 and a beta of 1.93.

Insider Buying and Selling at Kelt Exploration

In other Kelt Exploration news, Senior Officer Douglas Jeffery Errico purchased 5,500 shares of Kelt Exploration stock in a transaction dated Wednesday, March 26th. The shares were purchased at an average cost of C$6.78 per share, for a total transaction of C$37,290.00. Also, Senior Officer Bruce Douglas Gigg sold 14,630 shares of the stock in a transaction that occurred on Friday, March 28th. The stock was sold at an average price of C$6.75, for a total value of C$98,752.50. Insiders have sold a total of 120,856 shares of company stock worth $801,568 over the last ninety days. Company insiders own 15.87% of the company’s stock.

About Kelt Exploration

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.