Insider Buying: Spartan Delta Corp. (TSE:SDE) Senior Officer Acquires C$45,600.00 in Stock

Spartan Delta Corp. (TSE:SDE) Senior Officer Martin Malek acquired 12,000 shares of Spartan Delta stock in a transaction on Friday, September 13th. The shares were bought at an average price of C$3.80 per share, with a total value of C$45,600.00.

Spartan Delta Price Performance

Shares of TSE SDE opened at C$3.93 on Thursday. The firm has a 50-day simple moving average of C$3.92 and a 200-day simple moving average of C$3.92. The stock has a market capitalization of C$680.68 million, a price-to-earnings ratio of 4.73 and a beta of 1.52. The company has a quick ratio of 0.66, a current ratio of 0.93 and a debt-to-equity ratio of 30.43. Spartan Delta Corp. has a 52 week low of C$2.63 and a 52 week high of C$4.52.

Spartan Delta (TSE:SDE) last released its quarterly earnings data on Wednesday, August 7th. The company reported C$0.09 earnings per share (EPS) for the quarter. Spartan Delta had a net margin of 50.10% and a return on equity of 37.82%. The firm had revenue of C$73.45 million during the quarter. On average, equities analysts predict that Spartan Delta Corp. will post 0.2986497 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on SDE. Desjardins upgraded shares of Spartan Delta from a “hold” rating to a “buy” rating and upped their price objective for the stock from C$4.75 to C$5.00 in a research report on Monday, August 12th. National Bankshares upped their price objective on shares of Spartan Delta from C$5.50 to C$6.00 and gave the stock an “outperform” rating in a research report on Friday, May 24th. CIBC upped their price objective on shares of Spartan Delta from C$6.00 to C$7.00 in a research report on Monday, July 15th. Finally, Cormark upgraded shares of Spartan Delta from a “moderate buy” rating to a “strong-buy” rating in a research report on Friday, May 24th. One investment analyst has rated the stock with a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of C$5.67.

About Spartan Delta

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.