Kelt Exploration (TSE:KEL) Reaches New 52-Week Low – Here’s Why

Kelt Exploration Ltd. (TSE:KEL)’s stock price reached a new 52-week low on Monday . The stock traded as low as C$5.33 and last traded at C$5.47, with a volume of 63209 shares trading hands. The stock had previously closed at C$5.66.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. CIBC raised their price objective on Kelt Exploration from C$10.00 to C$11.50 in a research report on Friday, January 17th. BMO Capital Markets lifted their price target on shares of Kelt Exploration from C$8.50 to C$9.00 in a research note on Friday, December 13th. Scotiabank lifted their price target on shares of Kelt Exploration from C$10.50 to C$11.50 in a research note on Friday, January 17th. Finally, National Bankshares increased their price target on shares of Kelt Exploration from C$9.00 to C$10.00 and gave the stock an “outperform” rating in a research report on Thursday, January 30th.

Kelt Exploration Stock Performance

The stock’s 50-day moving average price is C$6.56 and its 200-day moving average price is C$6.63. 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 company has a market capitalization of C$1.11 billion, a P/E ratio of 19.88 and a beta of 1.93.

Insiders Place Their Bets

In other news, Senior Officer Douglas Owen Macarthur sold 45,000 shares of the business’s stock in a transaction on Wednesday, March 19th. The shares were sold at an average price of C$6.50, for a total transaction of C$292,500.00. Also, Senior Officer Bruce Douglas Gigg sold 14,630 shares of the stock in a transaction dated Friday, March 28th. The stock was sold at an average price of C$6.75, for a total transaction of C$98,752.50. Insiders have sold 243,856 shares of company stock valued at $1,712,838 over the last quarter. Insiders own 15.87% of the company’s stock.

Kelt Exploration Company Profile

Kelt Exploration Ltd., an oil and gas company, engages in the exploration, development, and production of crude oil and natural gas resources primarily in Western Canada. The company markets its crude oil and natural gas liquids primarily to third party. Kelt Exploration Ltd. was incorporated in 2012 and is headquartered in Calgary, Canada.