Tidewater Renewables (TSE:LCFS) Hits New 1-Year High – Here’s Why

Tidewater Renewables Ltd. (TSE:LCFS) reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as C$13.46 and last traded at C$13.29, with a volume of 18481 shares changing hands. The stock had previously closed at C$12.31.

Analyst Ratings Changes

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

Tidewater Renewables Stock Up 7.1%

The firm has a fifty day moving average price of C$10.75 and a 200 day moving average price of C$7.09. The company has a market cap of C$481.75 million, a P/E ratio of 59.95 and a beta of -0.39. 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.