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

Tidewater Renewables Ltd. (TSE:LCFS)’s stock price hit a new 52-week high during mid-day trading on Monday . The company traded as high as C$16.48 and last traded at C$16.40, with a volume of 13573 shares trading hands. The stock had previously closed at C$16.03.

Analysts Set New Price Targets

LCFS has been the topic of several analyst reports. ATB Cormark Capital Markets lifted their price objective 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. Royal Bank Of Canada raised their price target on Tidewater Renewables from C$7.50 to C$12.50 and gave the stock a “sector perform” rating in a research report on Friday, May 8th. Finally, National Bank Financial raised their price target 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. One investment analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Tidewater Renewables currently has a consensus rating of “Hold” and an average target price of C$12.58.

Tidewater Renewables Stock Down 1.9%

The firm has a market cap of C$608.86 million, a PE ratio of 75.77 and a beta of -0.46. 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 company’s 50-day simple moving average is C$12.82 and its two-hundred day simple moving average is C$8.90.

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.