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

Spartan Delta Corp. (TSE:SDE)’s share price reached a new 52-week low during trading on Tuesday . The stock traded as low as C$2.72 and last traded at C$2.72, with a volume of 151024 shares. The stock had previously closed at C$2.99.

Analysts Set New Price Targets

SDE has been the topic of several research analyst reports. Scotiabank boosted their price objective on Spartan Delta from C$6.00 to C$7.50 in a research report on Thursday, January 30th. National Bankshares raised their price target on shares of Spartan Delta from C$5.75 to C$6.00 and gave the stock an “outperform” rating in a research note on Thursday, December 19th. BMO Capital Markets dropped their price objective on Spartan Delta from C$6.00 to C$5.00 in a research note on Friday, December 13th. National Bank Financial raised Spartan Delta to a “strong-buy” rating in a report on Thursday, January 30th. Finally, Desjardins upgraded Spartan Delta to a “moderate buy” rating in a research note on Thursday, January 30th. Three research analysts have rated the stock with a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Strong Buy” and a consensus target price of C$6.29.

Spartan Delta Trading Down 2.7 %

The stock has a market cap of C$582.80 million, a PE ratio of 3.63 and a beta of 1.49. The company has a quick ratio of 0.66, a current ratio of 0.80 and a debt-to-equity ratio of 28.49. The firm has a 50-day simple moving average of C$3.67 and a 200-day simple moving average of C$3.63.

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.