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

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

Analyst Ratings Changes

A number of equities analysts have commented on DALXF shares. Scotiabank reiterated an “outperform” rating on shares of Spartan Delta in a report on Thursday, October 9th. BMO Capital Markets reiterated an “outperform” rating on shares of Spartan Delta in a report on Friday, August 8th. CIBC reiterated an “outperform” rating on shares of Spartan Delta in a report on Friday, July 11th. TD Securities reiterated a “buy” rating on shares of Spartan Delta in a report on Tuesday, September 30th. Finally, Desjardins downgraded shares of Spartan Delta from a “buy” rating to a “hold” rating in a research report on Tuesday, August 26th. Five 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 currently has a consensus rating of “Moderate Buy”.

Spartan Delta Price Performance

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

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.