Spartan Delta (TSE:SDE) Reaches New 12-Month Low – Here’s Why

Spartan Delta Corp. (TSE:SDE)’s share price hit 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. The stock had previously closed at C$2.75.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on SDE. Desjardins raised shares of Spartan Delta to a “moderate buy” rating in a research note on Thursday, January 30th. Scotiabank increased their price target on Spartan Delta from C$6.00 to C$7.50 in a report on Thursday, January 30th. Ventum Financial set a C$5.25 price objective on Spartan Delta and gave the stock a “buy” rating in a research report on Monday, March 31st. Ventum Cap Mkts raised shares of Spartan Delta to a “strong-buy” rating in a report on Monday, March 31st. Finally, National Bankshares upped their target price on Spartan Delta from C$5.75 to C$6.00 and gave the company an “outperform” rating in a research note on Thursday, December 19th. Four investment analysts have rated the stock with a buy rating and four have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Strong Buy” and a consensus price target of C$6.16.

Spartan Delta Trading Up 0.7 %

The company has a market cap of C$554.77 million, a price-to-earnings ratio of 3.46 and a beta of 1.49. The company’s fifty day moving average price is C$3.40 and its two-hundred day moving average price is C$3.51. The company has a quick ratio of 0.66, a current ratio of 0.80 and a debt-to-equity ratio of 28.49.

Insiders Place Their Bets

In related news, Senior Officer Ojay Platt sold 20,333 shares of the firm’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of C$3.02, for a total value of C$61,405.66. Insiders own 12.43% of the company’s stock.

Spartan Delta Company Profile

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.