Spartan Delta (TSE:SDE) Sets New 52-Week Low – Time to Sell?

Shares of Spartan Delta Corp. (TSE:SDE) reached a new 52-week low during trading on Tuesday . The company 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.

Wall Street Analyst Weigh In

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

Spartan Delta Trading Down 2.7 %

The firm’s 50-day simple moving average is C$3.67 and its 200-day simple moving average is C$3.63. The firm has a market capitalization 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.

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.