Spartan Delta (TSE:SDE) Hits New 52-Week High - Time to Buy?

Key Points

• Spartan Delta Corp. reached a new 52-week high price of C$5.22 during trading, reflecting investor interest.
• Despite hitting a new high, analyst firm Desjardins downgraded the stock from a "buy" to a "hold" rating, setting a price target of C$5.75.
• The company has a market capitalization of C$1.04 billion and maintains a PE ratio of 27.42, indicating its earnings performance relative to its stock price.

Spartan Delta Corp. (TSE:SDE - Get Free Report) hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as C$5.22 and last traded at C$5.19, with a volume of 90751 shares. The stock had previously closed at C$5.10.

Wall Street Analyst Weigh In

Separately, Desjardins downgraded shares of Spartan Delta from a "buy" rating to a "hold" rating and set a C$5.75 price target on the stock. in a report on Tuesday, August 26th. Three research analysts have rated the stock with a Strong Buy rating, two have given a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, Spartan Delta has a consensus rating of "Buy" and an average price target of C$5.75.

Spartan Delta Stock Down 1.5%

The business's fifty day moving average price is C$4.84 and its 200 day moving average price is C$3.78. The firm has a market capitalization of C$1.02 billion, a price-to-earnings ratio of 26.95 and a beta of 0.68. The company has a current ratio of 0.80, a quick ratio of 0.66 and a debt-to-equity ratio of 28.49.

About Spartan Delta

Spartan Delta Corp is an oil and gas exploration and production company. It is engaged in the exploration, development, and production of petroleum and natural gas properties in Alberta. The company operates and focuses its activities on Peace River Arch and Central Alberta.