Spartan Delta (TSE:SDE) Shares Up 2.2% - Should You Buy?

Key Points

• Spartan Delta Corp. shares rose 2.2% to a last traded price of C$5.21, despite a notable drop in trading volume, down 44% from the average.
• Desjardins downgraded the company from a "buy" to a "hold" rating, assigning a target price of C$5.75, while analysts maintain an overall average rating of "Buy."
• The company's market capitalization stands at C$1.04 billion with a P/E ratio of 27.42 and significant indicators of financial health, including a debt-to-equity ratio of 28.49.

Spartan Delta Corp. (TSE:SDE - Get Free Report) shot up 2.2% during trading on Tuesday . The stock traded as high as C$5.23 and last traded at C$5.21. 210,462 shares traded hands during trading, a decline of 44% from the average session volume of 373,704 shares. The stock had previously closed at C$5.10.

Analysts Set New Price Targets

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

Spartan Delta Price Performance

The company has a 50 day moving average of C$4.79 and a 200-day moving average of C$3.74. The firm has a market capitalization of C$1.04 billion, a P/E ratio of 27.42 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.

Spartan Delta Company Profile

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.

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