Why Is KEEL INFRASTRUCTURE (KEEL) Stock Down Today?

Keel Infrastructure shares fell 21.43% to $1.65, marking a fresh 52-week low. The decline followed the release of third-quarter 2026 financial results, which revealed that the company sold its entire Bitcoin holdings while it continues to negotiate leases for its AI data center sites.

What Happened

Keel Infrastructure reported third-quarter revenue of $27.603 million, which beat the estimate of $19.832 million, though the figure represented a 59% year-over-year decrease. The company posted an EPS of $(0.10), missing the consensus estimate of $(0.09). Management disclosed that it sold 2,520 Bitcoin in the third quarter for $192 million. The company stated that it expects the Sharon and Panther Creek substations to be energized in 2027, while shifting its expansion load study update to the first quarter of 2027.

Following the report, Alliance Global lowered its price target to $3.50 from $7. H.C. Wainwright lowered its price target to $3.25 from $4 and maintained a Buy rating. The company holds $780 million in liquidity to support its pivot from Bitcoin mining to AI data centers.

What The Data Shows

The stock closed at $1.65, which is below its 52-week range of $1.68 to $7.37. The company has a market capitalization of $1.4 billion and is unprofitable, with a trailing twelve-month EPS of -0.64 and a net margin of -230.6%. Revenue grew 8.5% over the trailing twelve months. The stock has a beta of 4.19. Over the last eight sessions prior to the drop, the stock moved -3.7% from $2.18 to $2.10.

Unusual options activity showed one notable print in the last 36 hours, with $108,000 in put premium and no call premium. The largest single print was $108,000. Recent insider filings show four buys totaling $526,000 over the last 90 days, with no sells. The most recent buy was executed by CEO Benjamin Gagnon on August 21, 2026. COO Liam Daniel Wilson also recorded buys on August 17 and August 20, 2026.

What To Watch

Investors will monitor the company’s progress in securing leases for its AI data center sites and the timing of the energization of the Sharon and Panther Creek substations in 2027.