Tidewater Renewables (TSE:LCFS) Reaches New 52-Week High – Should You Buy?

Tidewater Renewables Ltd. (TSE:LCFS)’s share price reached a new 52-week high on Tuesday . The company 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 research analysts recently issued reports on the stock. ATB Cormark Capital Markets upped their price objective on shares of 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 upped 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 note on Friday, May 8th. Finally, National Bank Financial increased their price objective on Tidewater Renewables from C$8.00 to C$13.25 and gave the company a “sector perform” rating in a report on Friday, May 8th. One analyst has rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of C$12.58.

Tidewater Renewables Price Performance

The firm has a 50-day moving average of C$10.91 and a two-hundred day moving average of C$7.21. The firm has a market cap of C$455.82 million, a price-to-earnings ratio of 56.73 and a beta of -0.39. The company has a current ratio of 1.13, a quick ratio of 0.10 and a debt-to-equity ratio of 120.55.

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.