Spartan Delta (TSE:SDE) Stock Price Up 2.2% - Still a 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)'s share price rose 2.2% on Tuesday . The stock traded as high as C$5.23 and last traded at C$5.21. Approximately 210,462 shares changed hands during mid-day trading, a decline of 44% from the average daily volume of 373,704 shares. The stock had previously closed at C$5.10.

Analysts Set New Price Targets

Separately, Desjardins cut 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 research note on Tuesday, August 26th. Three equities research analysts have rated the stock with a Strong Buy rating, two have given a Buy rating and one has issued a Hold rating to the company's stock. According to data from MarketBeat.com, 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 current ratio of 0.80, a quick ratio of 0.66 and a debt-to-equity ratio of 28.49. The stock's 50-day moving average is C$4.84 and its two-hundred day moving average is C$3.78. The company has a market capitalization of C$1.02 billion, a PE ratio of 26.95 and a beta of 0.68.

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.