Kolibri Global Energy (NASDAQ:KGEI) Trading Down 7.6% – Here’s Why

Kolibri Global Energy Inc. (NASDAQ:KGEI) traded down 7.6% during trading on Thursday . The stock traded as low as $7.30 and last traded at $7.37. 89,585 shares changed hands during mid-day trading, a decline of 41% from the average session volume of 151,941 shares. The stock had previously closed at $7.98.

Analyst Upgrades and Downgrades

Separately, Roth Mkm increased their price target on shares of Kolibri Global Energy from $6.75 to $11.00 and gave the stock a “buy” rating in a research note on Tuesday, February 18th.

Kolibri Global Energy Stock Performance

The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 0.17. The firm has a market cap of $261.47 million, a P/E ratio of 15.35, a P/E/G ratio of 0.81 and a beta of 0.10. The business has a fifty day simple moving average of $7.49 and a 200-day simple moving average of $5.09.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of KGEI. Millennium Management LLC increased its stake in shares of Kolibri Global Energy by 47.0% during the fourth quarter. Millennium Management LLC now owns 62,992 shares of the company’s stock valued at $335,000 after purchasing an additional 20,135 shares in the last quarter. National Bank of Canada FI bought a new position in Kolibri Global Energy in the third quarter worth approximately $140,000. 683 Capital Management LLC purchased a new stake in Kolibri Global Energy in the 4th quarter worth approximately $364,000. Truffle Hound Capital LLC purchased a new position in shares of Kolibri Global Energy in the fourth quarter valued at about $2,660,000. Finally, TFG Asset Management GP Ltd grew its stake in Kolibri Global Energy by 37.7% during the fourth quarter. TFG Asset Management GP Ltd now owns 9,739,635 shares of the company’s stock valued at $51,815,000 after acquiring an additional 2,669,067 shares in the last quarter. 27.26% of the stock is currently owned by institutional investors.

About Kolibri Global Energy

Kolibri Global Energy Inc engages in the finding and exploiting oil, gas, and clean and sustainable energy in the United States. It sells crude oil, natural gas, and natural gas liquids. The company was formerly known as BNK Petroleum Inc and changed its name to Kolibri Global Energy Inc in November 2020.