Spartan Delta (OTCMKTS:DALXF) Share Price Crosses Above 50-Day Moving Average – Here’s Why

Spartan Delta Corp. (OTCMKTS:DALXF) passed above its fifty day moving average during trading on Thursday . The stock has a fifty day moving average of $4.52 and traded as high as $5.40. Spartan Delta shares last traded at $5.3980, with a volume of 40,177 shares changing hands.

Analysts Set New Price Targets

Several research firms have commented on DALXF. BMO Capital Markets reissued an “outperform” rating on shares of Spartan Delta in a research report on Friday, August 8th. National Bankshares reiterated an “outperform” rating on shares of Spartan Delta in a research note on Wednesday, November 5th. Desjardins downgraded 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 research report on Thursday, October 9th. Finally, TD Securities reaffirmed a “buy” rating on shares of Spartan Delta in a research report on Tuesday, September 30th. Five equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy”.

Spartan Delta Stock Down 0.2%

The firm’s fifty day moving average is $4.52 and its 200-day moving average is $3.63.

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.