Kelt Exploration (TSE:KEL) Share Price Crosses Below 200 Day Moving Average – Here’s What Happened

Kelt Exploration Ltd. (TSE:KEL)’s share price passed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$6.75 and traded as low as C$6.48. Kelt Exploration shares last traded at C$6.48, with a volume of 501,993 shares traded.

Analyst Upgrades and Downgrades

Separately, Royal Bank Of Canada boosted their target price on shares of 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 analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of C$9.88.

Kelt Exploration Stock Performance

The company has a market cap of C$1.29 billion, a PE ratio of 17.51 and a beta of -0.35. 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’s 50-day simple moving average is C$6.83 and its two-hundred day simple moving average is C$6.75.

Insider Activity at Kelt Exploration

In other Kelt Exploration news, Senior Officer Douglas Owen Macarthur sold 13,000 shares of Kelt Exploration stock in a transaction that occurred on Friday, July 18th. The shares were sold at an average price of C$7.94, for a total transaction of C$103,220.00. Also, Director Raymond Kwan acquired 49,305 shares of the firm’s stock in a transaction on Monday, August 18th. The shares were acquired at an average price of C$6.65 per share, with a total value of C$327,878.25. Following the completion of the purchase, the director owned 105,755 shares in the company, valued at approximately C$703,270.75. This trade represents a 87.34% increase in their position. 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.