Spartan Delta (TSE:SDE) Sets New 12-Month Low – What’s Next?

Spartan Delta Corp. (TSE:SDE) shares reached a new 52-week low during mid-day trading on Monday . The stock traded as low as C$2.58 and last traded at C$2.63, with a volume of 85602 shares changing hands. The stock had previously closed at C$2.75.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on SDE. National Bankshares upped their price objective on Spartan Delta from C$5.75 to C$6.00 and gave the stock an “outperform” rating in a research report on Thursday, December 19th. National Bank Financial raised shares of Spartan Delta to a “strong-buy” rating in a research note on Thursday, January 30th. Ventum Cap Mkts raised shares of Spartan Delta to a “strong-buy” rating in a research report on Monday, March 31st. BMO Capital Markets decreased their target price on shares of Spartan Delta from C$6.00 to C$5.00 in a research report on Friday, December 13th. Finally, Ventum Financial set a C$5.25 price target on shares of Spartan Delta and gave the stock a “buy” rating in a research report on Monday, March 31st. Four analysts have rated the stock with a buy rating and four have assigned a strong buy rating to the company. According to data from MarketBeat.com, Spartan Delta currently has a consensus rating of “Strong Buy” and an average price target of C$6.16.

Spartan Delta Trading Up 13.7 %

The company has a debt-to-equity ratio of 28.49, a current ratio of 0.80 and a quick ratio of 0.66. The business has a 50-day simple moving average of C$3.33 and a two-hundred day simple moving average of C$3.48. The stock has a market cap of C$566.78 million, a price-to-earnings ratio of 3.53 and a beta of 1.49.

Insider Buying and Selling

In other news, Senior Officer Martin Malek acquired 17,700 shares of Spartan Delta stock in a transaction dated Tuesday, April 8th. The stock was bought at an average price of C$2.83 per share, for a total transaction of C$50,091.00. Also, Senior Officer Ojay Platt sold 20,333 shares of the stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of C$3.02, for a total value of C$61,405.66. 12.43% of the stock is owned by insiders.

About Spartan Delta

Spartan Delta Corp is an oil and gas exploration and production company. It is engaged in the exploration, development, and production of petroleum and natural gas properties in Alberta. The company operates and focuses its activities on Peace River Arch and Central Alberta.