Short Interest in Spartan Delta Corp. (OTCMKTS:DALXF) Increases By 12.5%

Spartan Delta Corp. (OTCMKTS:DALXF) was the target of a large growth in short interest in August. As of August 31st, there was short interest totalling 1,964,500 shares, a growth of 12.5% from the August 15th total of 1,746,900 shares. Based on an average trading volume of 18,800 shares, the days-to-cover ratio is presently 104.5 days.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Desjardins reduced their target price on Spartan Delta from C$18.00 to C$7.50 in a report on Thursday, June 22nd. BMO Capital Markets reduced their target price on Spartan Delta from C$5.50 to C$5.00 in a report on Thursday, August 3rd. CIBC cut shares of Spartan Delta from an “outperform” rating to a “neutral” rating in a research report on Tuesday, June 20th. Raymond James dropped their price objective on shares of Spartan Delta from C$19.00 to C$6.50 in a research report on Thursday, June 22nd. Finally, TD Securities upgraded shares of Spartan Delta from a “hold” rating to a “buy” rating in a research report on Friday, August 4th.

Spartan Delta Stock Performance

DALXF stock traded up $0.04 during trading on Monday, hitting $3.14. The company had a trading volume of 3,074 shares, compared to its average volume of 18,444. The firm has a 50-day moving average price of $3.21 and a 200-day moving average price of $7.48. Spartan Delta has a 12 month low of $2.97 and a 12 month high of $12.39.

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. Spartan Delta Corp.