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

Spartan Delta Corp. (OTCMKTS:DALXF) was the target of a significant growth in short interest during 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 days-to-cover ratio is currently 13.7 days. Based on an average daily volume of 107,300 shares, the days-to-cover ratio is currently 13.7 days.

Spartan Delta Trading Up 2.5%

DALXF stock opened at $4.48 on Monday. The company’s 50 day simple moving average is $3.84 and its 200-day simple moving average is $3.13. Spartan Delta has a 12 month low of $1.70 and a 12 month high of $4.48.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on DALXF. BMO Capital Markets reissued an “outperform” rating on shares of Spartan Delta in a report on Friday, August 8th. CIBC reissued an “outperform” rating on shares of Spartan Delta in a report on Friday, July 11th. Desjardins lowered shares of Spartan Delta from a “buy” rating to a “hold” rating in a report on Tuesday, August 26th. Scotiabank reaffirmed an “outperform” rating on shares of Spartan Delta in a report on Thursday, October 9th. Finally, TD Securities reaffirmed a “buy” rating on shares of Spartan Delta in a report on Tuesday, September 30th. Five investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, Spartan Delta presently has an average rating of “Moderate Buy”.

About Spartan Delta

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.