Tidewater Renewables (TSE:LCFS) Sets New 52-Week High – Time to Buy?

Tidewater Renewables Ltd. (TSE:LCFS) shares reached a new 52-week high during trading on Tuesday . The stock traded as high as C$14.68 and last traded at C$14.44, with a volume of 7973 shares changing hands. The stock had previously closed at C$13.85.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on LCFS. National Bank Financial increased their price objective on Tidewater Renewables from C$8.00 to C$13.25 and gave the stock a “sector perform” rating in a research report on Friday, May 8th. Royal Bank Of Canada boosted their target price on Tidewater Renewables from C$7.50 to C$12.50 and gave the company a “sector perform” rating in a report on Friday, May 8th. Finally, ATB Cormark Capital Markets upped their price target on Tidewater Renewables from C$8.00 to C$12.00 and gave the stock a “speculative buy” rating in a research note on Friday, May 8th. One equities research analyst has rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, Tidewater Renewables has a consensus rating of “Hold” and a consensus target price of C$12.58.

Tidewater Renewables Price Performance

The stock has a fifty day moving average of C$11.87 and a two-hundred day moving average of C$8.02. The stock has a market cap of C$527.41 million, a price-to-earnings ratio of 65.64 and a beta of -0.46. The company has a quick ratio of 0.10, a current ratio of 1.13 and a debt-to-equity ratio of 120.55.

About Tidewater Renewables

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.