Tidewater Renewables (TSE:LCFS) Trading Down 2.8% – Should You Sell?

Shares of Tidewater Renewables Ltd. (TSE:LCFS) were down 2.8% during trading on Tuesday . The company traded as low as C$10.43 and last traded at C$10.59. Approximately 7,267 shares were traded during trading, a decline of 60% from the average daily volume of 18,062 shares. The stock had previously closed at C$10.89.

Analysts Set New Price Targets

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

Tidewater Renewables Stock Up 1.0%

The business’s 50-day moving average price is C$10.20 and its 200-day moving average price is C$6.71. The company has a quick ratio of 0.10, a current ratio of 1.13 and a debt-to-equity ratio of 120.55. The firm has a market capitalization of C$409.80 million, a PE ratio of 51.00 and a beta of -0.39.

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.