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

Spartan Delta Corp. (OTCMKTS:DALXF)’s stock price passed above its 50-day moving average during trading on Thursday. The stock has a 50-day moving average of $9.17 and traded as high as $9.70. Spartan Delta shares last traded at $9.5950, with a volume of 36,091 shares changing hands.

Analysts Set New Price Targets

Several research analysts recently commented on DALXF shares. Royal Bank Of Canada began coverage on Spartan Delta in a research note on Wednesday, September 23rd. They issued an “outperform” rating on the stock. Canadian Imperial Bank of Commerce restated an “outperform” rating on shares of Spartan Delta in a report on Friday. Six research analysts have rated the stock with a Buy rating. According to MarketBeat, the company presently has a consensus rating of “Buy”.

Spartan Delta Stock Performance

The stock has a 50-day moving average of $9.20 and a 200-day moving average of $8.91.

About Spartan Delta

Spartan Delta Corp. is a Canadian oil and natural gas exploration and production company headquartered in Calgary, Alberta. The company focuses on acquiring, developing and operating energy assets in the Western Canadian Sedimentary Basin, with an emphasis on natural gas, natural gas liquids and crude oil production.

Spartan Delta’s operations have historically been concentrated in Alberta, including the Deep Basin and other liquids-rich areas. Its activities include drilling and completing wells, operating production infrastructure, and marketing the hydrocarbons produced from its properties.