Tidewater Renewables (TSE:LCFS) Stock Breaks Above 50-Day Moving Average – Time to Sell?

Tidewater Renewables Ltd. (TSE:LCFS)’s share price passed above its fifty day moving average during trading on Thursday. The stock has a fifty day moving average of C$21.34 and traded as high as C$23.79. Tidewater Renewables shares last traded at C$22.78, with a volume of 61,009 shares changing hands.

Analysts Set New Price Targets

Several research firms have recently commented on LCFS. Royal Bank Of Canada upgraded Tidewater Renewables from a “sector perform” rating to an “outperform” rating and boosted their price objective for the company from C$12.50 to C$25.00 in a report on Friday, August 14th. National Bank Financial increased their target price on Tidewater Renewables from C$13.25 to C$22.75 and gave the stock an “outperform” rating in a report on Friday, August 14th. Finally, ATB Cormark Capital Markets increased their target price on Tidewater Renewables from C$19.00 to C$21.00 and gave the stock a “speculative buy” rating in a report on Friday, October 23rd. Three research analysts have rated the stock with a Buy rating. According to MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of C$22.92.

Tidewater Renewables Price Performance

The stock has a market capitalization of C$832.29 million, a price-to-earnings ratio of 94.05 and a beta of -1.57. The business’s fifty day moving average price is C$21.34 and its 200-day moving average price is C$13.50. The company has a debt-to-equity ratio of 109.35, a current ratio of 1.13 and a quick ratio of 0.10.

Tidewater Renewables (TSE:LCFS) last posted its earnings results on Thursday, November 12th. The company reported C($0.43) EPS for the quarter. Tidewater Renewables had a return on equity of 0.20% and a net margin of 0.09%. The business had revenue of C$239.90 million for the quarter. On average, research analysts forecast that Tidewater Renewables Ltd. will post 0.15 EPS for the current year.

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.