Tidewater Renewables (TSE:LCFS) Sets New 12-Month High – Here’s Why

Tidewater Renewables Ltd. (TSE:LCFS) shares hit a new 52-week high during mid-day 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 traded. The stock had previously closed at C$11.67.

Wall Street Analyst Weigh In

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

Tidewater Renewables Stock Up 12.1%

The company has a market capitalization of C$477.73 million, a P/E ratio of 59.45 and a beta of -0.16. The company has a debt-to-equity ratio of 120.55, a quick ratio of 0.10 and a current ratio of 1.13. The stock has a 50 day moving average price of C$8.35 and a 200 day moving average price of C$5.77.

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.