Spartan Delta Corp. (OTCMKTS:DALXF) Short Interest Up 51.0% in August

Spartan Delta Corp. (OTCMKTS:DALXF) was the target of a significant growth in short interest during the month of August. As of August 15th, there was short interest totaling 1,157,600 shares, agrowthof51.0% from the July 31st total of 766,500 shares. Based on an average daily trading volume, of 61,900 shares, the days-to-cover ratio is currently 18.7 days. Based on an average daily trading volume, of 61,900 shares, the days-to-cover ratio is currently 18.7 days.

Spartan Delta Trading Up 0.3%

Shares of OTCMKTS:DALXF opened at $3.47 on Tuesday. The firm’s 50 day simple moving average is $3.38 and its 200 day simple moving average is $2.64. Spartan Delta has a fifty-two week low of $1.70 and a fifty-two week high of $3.76.

Wall Street Analysts Forecast Growth

Several research firms recently commented on DALXF. Desjardins cut shares of Spartan Delta from a “buy” rating to a “hold” rating in a research note on Tuesday, August 26th. CIBC reaffirmed an “outperform” rating on shares of Spartan Delta in a report on Friday, July 11th. BMO Capital Markets reissued an “outperform” rating on shares of Spartan Delta in a report on Friday, August 8th. Finally, Scotiabank reissued an “outperform” rating on shares of Spartan Delta in a report on Friday, July 11th. Four equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, Spartan Delta currently 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.