Deltic Energy (LON:DELT) Shares Up 7.8% – Time to Buy?

Shares of Deltic Energy Plc (LON:DELT) rose 7.8% during mid-day trading on Thursday . The company traded as high as GBX 5.80 ($0.08) and last traded at GBX 5.50 ($0.07). Approximately 664,421 shares traded hands during mid-day trading, an increase of 44% from the average daily volume of 460,031 shares. The stock had previously closed at GBX 5.10 ($0.07).

Wall Street Analysts Forecast Growth

Separately, Canaccord Genuity Group reduced their price objective on Deltic Energy from GBX 95 ($1.27) to GBX 85 ($1.14) and set a “speculative buy” rating for the company in a research note on Thursday, September 26th.

Deltic Energy Stock Performance

The stock’s 50-day simple moving average is GBX 9.30 and its two-hundred day simple moving average is GBX 16.17. The company has a debt-to-equity ratio of 0.62, a current ratio of 3.52 and a quick ratio of 30.42. The firm has a market capitalization of £5.26 million, a P/E ratio of -188.33 and a beta of 1.63.

Deltic Energy Company Profile

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.