Headwater Exploration (OTCMKTS:CDDRF) Trading Up 1.4% – Time to Buy?

Headwater Exploration Inc. (OTCMKTS:CDDRF) shares shot up 1.4% during mid-day trading on Thursday . The company traded as high as $6.59 and last traded at $6.59. 90,090 shares changed hands during trading, an increase of 65% from the average session volume of 54,488 shares. The stock had previously closed at $6.50.

Wall Street Analysts Forecast Growth

CDDRF has been the subject of a number of recent analyst reports. National Bankshares reaffirmed an “outperform” rating on shares of Headwater Exploration in a report on Friday, December 5th. Royal Bank Of Canada reiterated a “sector perform” rating on shares of Headwater Exploration in a research note on Friday, December 5th. Finally, Raymond James Financial lowered Headwater Exploration from an “outperform” rating to a “market perform” rating in a research note on Monday, December 8th. One equities research analyst has rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, Headwater Exploration presently has a consensus rating of “Hold”.

Headwater Exploration Stock Performance

The company has a 50-day moving average of $5.88 and a 200-day moving average of $5.39.

Headwater Exploration Company Profile

Headwater Exploration Inc engages in the exploration, development, and production of petroleum and natural gas in Canada. It holds interest in the Marten Hills area located in Alberta, and McCully Field area located in New Brunswick. The company was formerly known as Corridor Resources Inc and changed its name to Headwater Exploration Inc in March 2020. Headwater Exploration Inc incorporated in 1996 and is headquartered in Calgary, Canada.