Tidewater Renewables (TSE:LCFS) Reaches New 1-Year High – Here’s What Happened

Tidewater Renewables Ltd. (TSE:LCFS) shares reached a new 52-week high during trading on Wednesday . The company traded as high as C$13.50 and last traded at C$13.33, with a volume of 38517 shares trading hands. The stock had previously closed at C$12.85.

Analyst Upgrades and Downgrades

LCFS has been the topic of several research analyst reports. ATB Cormark Capital Markets raised their price objective on Tidewater Renewables from C$8.00 to C$12.00 and gave the stock a “speculative buy” rating in a research note on Friday, May 8th. National Bank Financial increased their price target 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, 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. One equities research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of C$12.58.

Tidewater Renewables Price Performance

The company’s 50-day moving average price is C$11.57 and its 200-day moving average price is C$7.74. The company has a debt-to-equity ratio of 120.55, a current ratio of 1.13 and a quick ratio of 0.10. The company has a market cap of C$486.86 million, a P/E ratio of 60.59 and a beta of -0.46.

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.