The stock of Spartan Energy Corp (TSE:SPE) gapped down by $0.04 today and has $2.82 target or 5.00% below today’s $2.97 share price. The 7 months technical chart setup indicates high risk for the $1000.00M company. The gap down was reported on Nov, 29 by Barchart.com. If the $2.82 price target is reached, the company will be worth $50.00 million less.
Gaps down are helpful for identifying a resistance level and to could also be used as a tradeable event. If traders are short the stock and it experiece gap down, then its usually advisable to hold the short for a bigger down move. Back-tests of such patterns show that two-thirds of the these patterns the stock performance worsens after the gap. The area gaps close 91% of the time, the breakaway gaps 1%, the continuation gaps 9% and the exhaustion gaps 64%. About 969,859 shares traded hands. Spartan Energy Corp (TSE:SPE) has declined 1.63% since April 25, 2016 and is downtrending. It has underperformed by 6.89% the S&P500.
Spartan Energy Corp (TSE:SPE) Ratings Coverage
Out of 4 analysts covering Spartan Energy Corp (TSE:SPE), 4 rate it a “Buy”, 0 “Sell”, while 0 “Hold”. This means 100% are positive. $4.15 is the highest target while $2.65 is the lowest. The $3.93 average target is 32.32% above today’s ($2.97) stock price. Spartan Energy Corp has been the topic of 8 analyst reports since December 3, 2015 according to StockzIntelligence Inc. National Bank Canada maintained the shares of SPE in a report on Wednesday, August 24 with “Outperform” rating.
More notable recent Spartan Energy Corp (TSE:SPE) news were published by: Marketwired.com which released: “Spartan Energy Corp. Announces Southeast Saskatchewan Light Oil Acquisition …” on August 03, 2016, also Marketwired.com with their article: “Spartan Energy Corp. Announces Two Consolidating Southeast Saskatchewan Light …” published on June 29, 2016, Marketwired.com published: “Spartan Energy Corp. Announces Exercise of Over-Allotment Option and …” on August 24, 2016. More interesting news about Spartan Energy Corp (TSE:SPE) were released by: Marketwired.com and their article: “Spartan Energy Corp. Announces $75 Million Bought Deal Financing” published on February 24, 2016 as well as Marketwired.com‘s news article titled: “Spartan Energy Corp. Announces First Quarter Financial and Operating Results …” with publication date: May 11, 2016.
Spartan Energy Corp, formerly Alexander Energy Ltd is a Canada oil and natural gas exploration and production firm with producing properties focused in Saskatchewan. The company has a market cap of $1000.00 million. The Company’s properties include Southeast Saskatchewan, West Central Saskatchewan and Alexander Alberta. It currently has negative earnings. The Southeast Saskatchewan property focuses on conventional Mississippian targets, primarily in the Frobisher/Alida and Midale formations.
Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with our FREE daily email newsletter.