Tidewater Renewables (TSE:LCFS) Trading Up 2.7% – Here’s What Happened

Shares of Tidewater Renewables Ltd. (TSE:LCFS) shot up 2.7% on Monday . The stock traded as high as C$1.91 and last traded at C$1.90. 15,960 shares changed hands during mid-day trading, an increase of 34% from the average session volume of 11,895 shares. The stock had previously closed at C$1.85.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on LCFS. CIBC lowered Tidewater Renewables from an “outperform” rating to a “neutral” rating and lowered their price objective for the stock from C$12.00 to C$4.50 in a research report on Friday, August 16th. ATB Capital cut their price target on Tidewater Renewables from C$14.00 to C$8.00 and set an “outperform” rating for the company in a research note on Friday, August 16th. National Bankshares downgraded Tidewater Renewables from a “sector perform” rating to an “underperform” rating and cut their price target for the company from C$12.00 to C$3.50 in a research note on Friday, August 16th. Finally, Acumen Capital downgraded Tidewater Renewables from a “speculative buy” rating to a “hold” rating and cut their target price for the stock from C$13.75 to C$4.75 in a research note on Monday, August 19th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of C$8.34.

Tidewater Renewables Stock Performance

The stock has a market cap of C$66.27 million, a P/E ratio of -6.55 and a beta of 1.36. The firm’s fifty day moving average price is C$2.21 and its two-hundred day moving average price is C$5.80. The company has a debt-to-equity ratio of 60.43, a current ratio of 0.30 and a quick ratio of 0.10.

Tidewater Renewables Company Profile

Tidewater Renewables Ltd. engages in production of renewable fuel in North America. It intends to focus on the production of low carbon fuels, including renewable diesel, renewable hydrogen, and renewable natural gas, as well as carbon capture. The company intends to supply low carbon fuels to investment grade counterparties, existing customers, government entities, Indigenous groups, and others in the transportation, utilities, refining, marketing, and power industries.