Kelt Exploration (TSE:KEL) Share Price Crosses Below 200 Day Moving Average – Should You Sell?

Kelt Exploration Ltd. (TSE:KEL)’s stock price passed below its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of C$6.57 and traded as low as C$6.27. Kelt Exploration shares last traded at C$6.31, with a volume of 687,668 shares changing hands.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. Scotiabank upped their price target on shares of Kelt Exploration from C$10.50 to C$11.50 in a report on Friday, January 17th. BMO Capital Markets upped their price target on shares of Kelt Exploration from C$8.50 to C$9.00 in a report on Friday, December 13th. National Bankshares upped their price target on shares of Kelt Exploration from C$9.00 to C$10.00 and gave the company an “outperform” rating in a report on Thursday, January 30th. Finally, CIBC increased their target price on shares of Kelt Exploration from C$10.00 to C$11.50 in a research note on Friday, January 17th. Six analysts have rated the stock with a buy rating, According to data from MarketBeat, Kelt Exploration currently has an average rating of “Buy” and a consensus target price of C$9.64.

Kelt Exploration Stock Performance

The firm’s 50 day moving average price is C$6.93 and its 200-day moving average price is C$6.57. The company has a debt-to-equity ratio of 4.53, a quick ratio of 0.61 and a current ratio of 0.50. The firm has a market capitalization of C$1.25 billion, a PE ratio of 22.37 and a beta of 1.93.

Insider Transactions at Kelt Exploration

In related news, Senior Officer Patrick William George Miles sold 48,000 shares of the stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of C$7.35, for a total value of C$352,876.80. Also, Senior Officer David A. Gillis sold 10,000 shares of the stock in a transaction on Friday, January 10th. The shares were sold at an average price of C$7.48, for a total value of C$74,800.00. Insiders have sold a total of 123,000 shares of company stock valued at $911,270 in the last ninety days. 15.87% of the stock is currently owned by corporate insiders.

About Kelt Exploration

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.