Deltic Energy (LON:DELT) Trading 18.4% Higher – Here’s What Happened

Deltic Energy Plc (LON:DELT)’s share price traded up 18.4% during mid-day trading on Wednesday . The stock traded as high as GBX 7.40 ($0.09) and last traded at GBX 7.40 ($0.09). 304,229 shares changed hands during trading, a decline of 47% from the average session volume of 570,122 shares. The stock had previously closed at GBX 6.25 ($0.08).

Wall Street Analysts Forecast Growth

Separately, Canaccord Genuity Group lowered their price objective on shares of Deltic Energy from GBX 95 ($1.21) to GBX 85 ($1.08) and set a “speculative buy” rating for the company in a research note on Thursday, September 26th.

Deltic Energy Stock Up 4.0 %

The company has a current ratio of 1.70, a quick ratio of 30.42 and a debt-to-equity ratio of 3.02. The stock has a market capitalization of £6.05 million, a P/E ratio of -27.17 and a beta of 1.63. The firm’s fifty day moving average is GBX 6.18 and its 200-day moving average is GBX 9.50.

About Deltic Energy

Deltic Energy Plc, a natural resources investing company, engages in the exploration, evaluation, and development of oil and gas licenses. It holds licenses in the Southern and Central North Sea. The company was formerly known as Cluff Natural Resources Plc and changed its name to Deltic Energy Plc in June 2020.