Spartan Delta (TSE:SDE) Trading 3% Higher - Here's What Happened

Spartan Delta Corp. (TSE:SDE - Get Free Report) shares were up 3% on Thursday . The stock traded as high as C$3.82 and last traded at C$3.81. Approximately 178,674 shares were traded during trading, a decline of 52% from the average daily volume of 373,209 shares. The stock had previously closed at C$3.70.

Analyst Upgrades and Downgrades

Several research firms have commented on SDE. Ventum Cap Mkts raised shares of Spartan Delta to a "strong-buy" rating in a report on Monday, March 31st. CIBC reduced their price target on shares of Spartan Delta from C$7.00 to C$5.00 in a research report on Thursday, April 10th. Finally, Ventum Financial set a C$5.25 price objective on shares of Spartan Delta and gave the company a "buy" rating in a research note on Monday, March 31st. Two research analysts have rated the stock with a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Strong Buy" and a consensus target price of C$5.63.

Spartan Delta Stock Up 0.3%

The firm's fifty day moving average is C$3.20 and its 200-day moving average is C$3.31. The company has a market capitalization of C$763.05 million, a P/E ratio of 4.76 and a beta of 1.49. The company has a debt-to-equity ratio of 28.49, a quick ratio of 0.66 and a current ratio of 0.80.

Insiders Place Their Bets

In other news, Senior Officer Martin Malek bought 17,700 shares of the company's stock in a transaction on Tuesday, April 8th. The stock was purchased at an average cost of C$2.83 per share, for a total transaction of C$50,091.00. 12.43% of the stock is owned by corporate insiders.

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.