Tidewater Renewables (TSE:LCFS) Reaches New 12-Month High – Here’s What Happened

Tidewater Renewables Ltd. (TSE:LCFS)’s stock price reached a new 52-week high during trading on Tuesday . The company traded as high as C$13.00 and last traded at C$12.71, with a volume of 31377 shares trading hands. The stock had previously closed at C$11.67.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on LCFS. National Bank Financial raised their price target on Tidewater Renewables from C$8.00 to C$13.25 and gave the company a “sector perform” rating in a research report on Friday, May 8th. Royal Bank Of Canada raised their price target on Tidewater Renewables from C$7.50 to C$12.50 and gave the company a “sector perform” rating in a research report on Friday, May 8th. Finally, ATB Cormark Capital Markets raised their price target on Tidewater Renewables from C$8.00 to C$12.00 and gave the company a “speculative buy” rating in a research report on Friday, May 8th. One analyst has rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of C$12.58.

Tidewater Renewables Stock Performance

The firm’s 50 day moving average price is C$8.60 and its 200-day moving average price is C$5.89. The firm has a market cap of C$455.45 million, a price-to-earnings ratio of 56.68 and a beta of -0.16. The company has a debt-to-equity ratio of 120.55, a current ratio of 1.13 and a quick ratio of 0.10.

Tidewater Renewables Company Profile

Tidewater Renewables is a multi-faceted, energy transition company. The Corporation is focused on the production of low carbon fuels, including renewable diesel and sustainable aviation fuel. The Corporation was created in response to the growing demand for renewable fuels in North America and to capitalize on its potential to efficiently turn a wide variety of renewable feedstocks (such as canola oil, soybean oil, used cooking oil, distillers corn oil, tallow, and other biomasses) into low carbon fuels.