Spartan Delta (TSE:SDE) Trading Down 0.4% – Time to Sell?

Spartan Delta Corp. (TSE:SDE) shares were down 0.4% during trading on Wednesday . The company traded as low as C$2.61 and last traded at C$2.67. Approximately 328,848 shares traded hands during mid-day trading, a decline of 16% from the average daily volume of 391,630 shares. The stock had previously closed at C$2.68.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on SDE shares. National Bank Financial raised Spartan Delta to a “strong-buy” rating in a research note on Thursday, January 30th. Scotiabank upped their price objective on shares of Spartan Delta from C$6.00 to C$7.50 in a research note on Thursday, January 30th. Ventum Financial set a C$5.25 target price on shares of Spartan Delta and gave the stock a “buy” rating in a research report on Monday, March 31st. Desjardins upgraded shares of Spartan Delta to a “moderate buy” rating in a research report on Thursday, January 30th. Finally, CIBC lowered their price objective on shares of Spartan Delta from C$7.00 to C$5.00 in a research report on Thursday, April 10th. Three equities research analysts have rated the stock with a buy rating and four have given a strong buy rating to the stock. Based on data from MarketBeat.com, Spartan Delta has a consensus rating of “Strong Buy” and an average target price of C$5.91.

Spartan Delta Stock Down 0.4 %

The firm has a 50-day moving average price of C$2.96 and a two-hundred day moving average price of C$3.33. The company has a market capitalization of C$534.74 million, a P/E ratio of 3.33 and a beta of 1.49. The company has a quick ratio of 0.66, a current ratio of 0.80 and a debt-to-equity ratio of 28.49.

Insiders Place Their Bets

In related news, Senior Officer Martin Malek acquired 17,700 shares of the stock in a transaction dated Tuesday, April 8th. The shares were bought at an average cost of C$2.83 per share, for a total transaction of C$50,091.00. Also, Senior Officer Ojay Platt sold 20,333 shares of the business’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of C$3.02, for a total value of C$61,405.66. Corporate insiders own 12.43% of the company’s stock.

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.