Spartan Delta (TSE:SDE) Shares Down 9.5% - What's Next?

Key Points

• Shares plunged ~9.5% mid-day to C$11.48 (intraday low C$11.43) from a C$12.68 close on very light volume (~110,393 shares, about 85% below the 754,952 average).
• Analysts remain largely positive with a consensus Moderate Buy (six Buys, one Hold), an average target of C$11.09, and individual targets as high as C$13.50.
• Key fundamentals: market cap C$2.31B, PE ~32.9, sub-1 liquidity ratios (current 0.87, quick 0.66) and a high debt-to-equity of 29.03, though the stock is trading above its 50-day (C$10.88) and 200-day (C$8.27) moving averages.

Spartan Delta Corp. (TSE:SDE - Get Free Report) dropped 9.5% during mid-day trading on Wednesday . The company traded as low as C$11.43 and last traded at C$11.48. Approximately 110,393 shares were traded during mid-day trading, a decline of 85% from the average daily volume of 754,952 shares. The stock had previously closed at C$12.68.

Wall Street Analysts Forecast Growth

SDE has been the subject of a number of analyst reports. National Bank Financial increased their price objective on shares of Spartan Delta from C$7.50 to C$9.00 and gave the stock an "outperform" rating in a research note on Tuesday, January 6th. Roth Mkm set a C$13.50 price objective on shares of Spartan Delta and gave the stock a "buy" rating in a research note on Wednesday, March 4th. Scotiabank increased their price objective on shares of Spartan Delta from C$8.00 to C$11.00 and gave the stock an "outperform" rating in a research note on Wednesday, January 21st. Ventum Financial increased their price objective on shares of Spartan Delta from C$10.50 to C$12.25 and gave the stock a "buy" rating in a research note on Tuesday, February 24th. Finally, Desjardins raised their target price on shares of Spartan Delta from C$9.50 to C$11.00 and gave the company a "hold" rating in a research note on Tuesday, February 24th. Six equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of C$11.09.

Spartan Delta Stock Down 9.2%

The firm has a market capitalization of C$2.31 billion, a PE ratio of 32.89 and a beta of -0.03. The business's 50 day simple moving average is C$10.88 and its 200 day simple moving average is C$8.27. The company has a current ratio of 0.87, a quick ratio of 0.66 and a debt-to-equity ratio of 29.03.

Spartan Delta Company Profile

Spartan is committed to creating value for its shareholders, focused on sustainability in both operations and financial performance. The Company's culture is centered on generating Free Funds Flow through responsible oil and gas exploration and development. The Company has established a portfolio of high-quality production and development opportunities in the Deep Basin and the Duvernay. Spartan will continue to focus on the execution of the Company's organic drilling program across its portfolio, delivering operational synergies in a respectful and responsible manner in relation to the environment and communities it operates in.

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