Spartan Delta Corp. (OTCMKTS:DALXF) Sees Significant Increase in Short Interest

Spartan Delta Corp. (OTCMKTS:DALXF) was the target of a significant growth in short interest in the month of October. As of October 15th, there was short interest totaling 1,467,600 shares, a growth of 44.1% from the September 30th total of 1,018,700 shares. Based on an average daily volume of 107,300 shares, the short-interest ratio is currently 13.7 days. Based on an average daily volume of 107,300 shares, the short-interest ratio is currently 13.7 days.

Spartan Delta Stock Up 3.9%

OTCMKTS DALXF opened at $4.65 on Tuesday. The business has a 50-day moving average price of $3.86 and a 200-day moving average price of $3.15. Spartan Delta has a twelve month low of $1.70 and a twelve month high of $4.65.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on DALXF. Desjardins lowered Spartan Delta from a “buy” rating to a “hold” rating in a report on Tuesday, August 26th. Scotiabank reissued an “outperform” rating on shares of Spartan Delta in a report on Thursday, October 9th. BMO Capital Markets reaffirmed an “outperform” rating on shares of Spartan Delta in a research note on Friday, August 8th. TD Securities reaffirmed a “buy” rating on shares of Spartan Delta in a research note on Tuesday, September 30th. Finally, CIBC reaffirmed an “outperform” rating on shares of Spartan Delta in a research note on Friday, July 11th. Five research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat, Spartan Delta has an average rating of “Moderate Buy”.

Spartan Delta Company Profile

Spartan Delta Corp. engages in the exploration, development, and production of oil and natural gas reserves in the Western Canada. Its assets are located in Montney and Deep Basin. The company was formerly known as Return Energy Inc and changed its name to Spartan Delta Corp. in May 2020. The company was incorporated in 2006 and is headquartered in Calgary, Canada.