Tidewater Renewables (TSE:LCFS) Trading 10.8% Higher – Here’s Why

Tidewater Renewables Ltd. (TSE:LCFS)’s share price traded up 10.8% during mid-day trading on Friday . The company traded as high as C$2.83 and last traded at C$2.56. 97,356 shares changed hands during mid-day trading, an increase of 64% from the average session volume of 59,344 shares. The stock had previously closed at C$2.31.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. Royal Bank of Canada lifted their price target on shares of Tidewater Renewables from C$5.00 to C$5.50 and gave the stock a “sector perform” rating in a research note on Monday, January 13th. ATB Capital decreased their price target on shares of Tidewater Renewables from C$5.00 to C$3.00 and set a “speculative buy” rating for the company in a research note on Friday, November 15th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, Tidewater Renewables has a consensus rating of “Hold” and a consensus target price of C$5.75.

Tidewater Renewables Stock Up 22.9 %

The business’s fifty day moving average price is C$0.92 and its 200 day moving average price is C$1.43. The firm has a market capitalization of C$98.88 million, a price-to-earnings ratio of -0.26 and a beta of 1.36. The company has a current ratio of 1.15, a quick ratio of 0.10 and a debt-to-equity ratio of 114.04.

Tidewater Renewables Company Profile

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.