Spartan Delta (TSE:SDE) Trading Up 0.3% – Here’s What Happened

Spartan Delta Corp. (TSE:SDE) was up 0.3% during trading on Wednesday . The company traded as high as C$3.28 and last traded at C$3.25. Approximately 498,999 shares traded hands during mid-day trading, an increase of 81% from the average daily volume of 276,024 shares. The stock had previously closed at C$3.24.

Analysts Set New Price Targets

A number of equities research analysts recently commented on SDE shares. National Bankshares dropped their price objective on Spartan Delta from C$6.00 to C$5.50 in a report on Friday, September 27th. Cormark upgraded Spartan Delta to a “strong-buy” rating in a report on Monday, September 23rd. Finally, Desjardins upgraded Spartan Delta from a “hold” rating to a “buy” rating and upped their price objective for the company from C$4.75 to C$5.00 in a report on Monday, August 12th. One equities research analyst has rated the stock with a hold rating, seven have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and an average target price of C$5.61.

Spartan Delta Price Performance

The company has a market capitalization of C$578.49 million, a price-to-earnings ratio of 4.07 and a beta of 1.49. The business has a 50 day moving average price of C$3.63 and a 200-day moving average price of C$3.90. The company has a debt-to-equity ratio of 30.43, a quick ratio of 0.66 and a current ratio of 0.93.

Spartan Delta (TSE:SDE) last issued its quarterly earnings data on Tuesday, November 5th. The company reported C$0.02 EPS for the quarter. Spartan Delta had a return on equity of 37.82% and a net margin of 50.10%. The firm had revenue of C$60.55 million during the quarter. Research analysts predict that Spartan Delta Corp. will post 0.305004 EPS for the current fiscal year.

Insider Transactions at Spartan Delta

In other news, Senior Officer Martin Malek bought 12,000 shares of Spartan Delta stock in a transaction that occurred on Friday, September 13th. The shares were acquired at an average price of C$3.80 per share, with a total value of C$45,600.00. Insiders own 12.43% of the company’s stock.

Spartan Delta Company Profile

Spartan Delta Corp. engages in the exploration, development, and production of oil and natural gas reserves in the Western Canada. Its assets are located in Montney and Deep Basin. The company was formerly known as Return Energy Inc and changed its name to Spartan Delta Corp. in May 2020. The company was incorporated in 2006 and is headquartered in Calgary, Canada.