Spartan Delta (TSE:SDE) Stock Price Down 0.6% - Should You Sell?

Spartan Delta Corp. (TSE:SDE - Get Free Report) shares were down 0.6% during mid-day trading on Monday . The company traded as low as C$3.20 and last traded at C$3.20. Approximately 235,273 shares were traded during mid-day trading, a decline of 19% from the average daily volume of 289,733 shares. The stock had previously closed at C$3.22.

Analyst Ratings Changes

A number of equities research analysts recently commented on SDE shares. Desjardins raised shares of Spartan Delta from a "hold" rating to a "buy" rating and increased their price objective for the company from C$4.75 to C$5.00 in a research note on Monday, August 12th. National Bankshares lowered their price objective on shares of Spartan Delta from C$6.00 to C$5.50 in a research note on Friday, September 27th. Finally, Cormark raised shares of Spartan Delta to a "strong-buy" rating in a research note on Monday, September 23rd. One equities research 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 MarketBeat, Spartan Delta currently has a consensus rating of "Buy" and a consensus target price of C$5.61.

Spartan Delta Price Performance

The company's 50-day moving average is C$3.52 and its 200-day moving average is C$3.82. The company has a debt-to-equity ratio of 30.43, a current ratio of 0.93 and a quick ratio of 0.66. The firm has a market capitalization of C$538.65 million, a price-to-earnings ratio of 3.78 and a beta of 1.49.

Spartan Delta (TSE:SDE - Get Free Report) last released its earnings results on Tuesday, November 5th. The company reported C$0.02 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 business had revenue of C$60.55 million for the quarter. On average, research analysts expect that Spartan Delta Corp. will post 0.305004 earnings per share for the current year.

Insider Buying and Selling

In other Spartan Delta news, Senior Officer Martin Malek purchased 12,000 shares of the business's stock in a transaction that occurred on Friday, September 13th. The shares were purchased at an average price of C$3.80 per share, for a total transaction of C$45,600.00. Corporate insiders own 12.43% of the company's stock.

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.