Insider Buying: Spartan Delta Corp. (TSE:SDE) Senior Officer Buys 12,000 Shares of Stock

Spartan Delta Corp. (TSE:SDE) Senior Officer Martin Malek acquired 12,000 shares of the stock in a transaction on Friday, September 13th. The shares were acquired at an average price of C$3.80 per share, with a total value of C$45,600.00.

Spartan Delta Stock Performance

Shares of Spartan Delta stock traded up C$0.04 during trading hours on Monday, reaching C$3.73. The company’s stock had a trading volume of 53,822 shares, compared to its average volume of 268,931. The company has a debt-to-equity ratio of 30.43, a quick ratio of 0.66 and a current ratio of 0.93. Spartan Delta Corp. has a one year low of C$2.63 and a one year high of C$4.52. The company’s 50 day simple moving average is C$3.93 and its 200 day simple moving average is C$3.90. The stock has a market cap of C$646.04 million, a P/E ratio of 4.45 and a beta of 1.52.

Spartan Delta (TSE:SDE) last issued its earnings results on Wednesday, August 7th. The company reported C$0.09 earnings per share (EPS) for the quarter. The firm had revenue of C$73.45 million for the quarter. Spartan Delta had a net margin of 50.10% and a return on equity of 37.82%. As a group, analysts expect that Spartan Delta Corp. will post 0.2946783 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on SDE. CIBC increased their target price on Spartan Delta from C$6.00 to C$7.00 in a research note on Monday, July 15th. National Bankshares increased their price objective on shares of Spartan Delta from C$5.50 to C$6.00 and gave the company an “outperform” rating in a research note on Friday, May 24th. Cormark raised shares of Spartan Delta from a “moderate buy” rating to a “strong-buy” rating in a research report on Friday, May 24th. Finally, Desjardins upgraded shares of Spartan Delta from a “hold” rating to a “buy” rating and upped their target price for the company from C$4.75 to C$5.00 in a research note on Monday, August 12th. One equities research analyst has rated the stock with a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of C$5.67.

Spartan Delta Company Profile

Spartan Delta Corp. engages in the exploration, development, and production of oil and natural gas reserves in the Western Canada. Its assets are located in Montney and Deep Basin. The company was formerly known as Return Energy Inc and changed its name to Spartan Delta Corp. in May 2020. The company was incorporated in 2006 and is headquartered in Calgary, Canada.