Tidewater Renewables (TSE:LCFS) Trading Up 10% – Time to Buy?

Tidewater Renewables Ltd. (TSE:LCFS)’s stock price traded up 10% during mid-day trading on Thursday . The stock traded as high as C$2.85 and last traded at C$2.65. 70,471 shares changed hands during mid-day trading, an increase of 29% from the average session volume of 54,629 shares. The stock had previously closed at C$2.41.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. Acumen Capital boosted their target price on shares of Tidewater Renewables from C$2.25 to C$3.50 and gave the company a “hold” rating in a research note on Friday. CIBC lifted their price target on shares of Tidewater Renewables from C$3.00 to C$3.25 and gave the stock a “neutral” rating in a research report on Friday. Royal Bank of Canada lifted their price target on shares of Tidewater Renewables from C$5.00 to C$5.50 and gave the company a “sector perform” rating in a research note on Monday, January 13th. Finally, ATB Capital increased their price objective on Tidewater Renewables from C$3.00 to C$4.00 and gave the stock a “speculative buy” rating in a report on Friday. One analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of C$4.79.

Tidewater Renewables Stock Up 8.1 %

The firm’s 50 day moving average is C$1.43 and its two-hundred day moving average is C$1.44. The firm has a market capitalization of C$116.29 million, a P/E ratio of -0.31 and a beta of 1.36. The company has a debt-to-equity ratio of 114.04, a current ratio of 1.15 and a quick ratio of 0.10.

About Tidewater Renewables

Tidewater Renewables Ltd has been formed to become a multi-faceted, energy transition company. It is focused on the production of low carbon fuels, including renewable diesel, renewable hydrogen and renewable natural gas, as well as carbon capture. The corporation generates revenue from the sale of renewable products.