Kelt Exploration Ltd. (OTCMKTS:KELTF) Sees Significant Increase in Short Interest

Kelt Exploration Ltd. (OTCMKTS:KELTF) was the recipient of a significant increase in short interest in June. As of June 30th, there was short interest totaling 2,970,096 shares, an increase of 386.6% from the June 15th total of 610,362 shares. Based on an average daily trading volume, of 90,093 shares, the short-interest ratio is currently 33.0 days.

Kelt Exploration Price Performance

OTCMKTS KELTF traded up $0.00 on Friday, reaching $6.61. The stock had a trading volume of 96,085 shares, compared to its average volume of 58,875. Kelt Exploration has a 12-month low of $4.35 and a 12-month high of $8.24. The business’s 50-day moving average price is $6.80 and its 200 day moving average price is $6.34.

Analyst Ratings Changes

KELTF has been the subject of a number of research reports. BMO Capital Markets reiterated an “outperform” rating on shares of Kelt Exploration in a research report on Friday, May 8th. Canadian Imperial Bank of Commerce reissued an “outperform” rating on shares of Kelt Exploration in a report on Friday. Four analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company currently has an average rating of “Buy”.

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.