Deltic Energy (LON:DELT) Shares Up 18.4% – Time to Buy?

Deltic Energy Plc (LON:DELT) shares rose 18.4% on Wednesday . The company traded as high as GBX 7.40 ($0.09) and last traded at GBX 7.40 ($0.09). Approximately 304,229 shares changed hands during trading, a decline of 47% from the average daily volume of 570,122 shares. The stock had previously closed at GBX 6.25 ($0.08).

Analysts Set New Price Targets

Separately, Canaccord Genuity Group cut their price objective on Deltic Energy from GBX 95 ($1.20) to GBX 85 ($1.07) and set a “speculative buy” rating on the stock in a research note on Thursday, September 26th.

Deltic Energy Price Performance

The company has a fifty day moving average price of GBX 6.13 and a two-hundred day moving average price of GBX 9.34. The company has a current ratio of 1.70, a quick ratio of 30.42 and a debt-to-equity ratio of 3.02. The company has a market cap of £7.45 million, a price-to-earnings ratio of -33.70 and a beta of 1.63.

Deltic Energy Company Profile

Deltic Energy Plc, a natural resources investing company, engages in the exploration, evaluation, and development of oil and gas licenses. It holds licenses in the Southern and Central North Sea. The company was formerly known as Cluff Natural Resources Plc and changed its name to Deltic Energy Plc in June 2020.