Kelt Exploration (OTCMKTS:KELTF) Stock Price Down 7.8% – What’s Next?

Shares of Kelt Exploration Ltd. (OTCMKTS:KELTF) were down 7.8% during mid-day trading on Friday . The stock traded as low as $5.1702 and last traded at $5.1702. Approximately 1,000 shares traded hands during mid-day trading, a decline of 97% from the average daily volume of 35,872 shares. The stock had previously closed at $5.6075.

Analyst Ratings Changes

A number of brokerages recently commented on KELTF. Roth Capital began coverage on Kelt Exploration in a report on Friday, December 19th. They set a “buy” rating on the stock. TD Securities reissued a “buy” rating on shares of Kelt Exploration in a report on Friday, November 14th. Four analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock currently has an average rating of “Buy”.

Kelt Exploration Trading Down 7.8%

The business’s fifty day simple moving average is $5.20 and its 200-day simple moving average is $5.15.

Kelt Exploration Company Profile

Kelt Exploration Ltd. is a Calgary-based oil and gas company engaged in the exploration, development and production of petroleum and natural gas reserves in Western Canada. Using horizontal drilling and multi-stage fracturing techniques, the company targets light oil and natural gas liquids in unconventional resource plays. Kelt’s business model emphasizes cost efficiency and disciplined capital allocation to maximize value from its asset base.

The company’s core holdings are concentrated in the Montney and Deep Basin resource plays of West Central and Northern Alberta.