Tidewater Renewables (TSE:LCFS) Trading Down 1.9% – Time to Sell?

Tidewater Renewables Ltd. (TSE:LCFS)’s share price traded down 1.9% during mid-day trading on Wednesday . The stock traded as low as C$2.46 and last traded at C$2.63. 34,115 shares traded hands during trading, a decline of 22% from the average session volume of 43,477 shares. The stock had previously closed at C$2.68.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. ATB Capital lifted their price target on shares of Tidewater Renewables from C$3.00 to C$4.00 and gave the company a “speculative buy” rating in a report on Friday, March 28th. Acumen Capital lifted their price target on shares of Tidewater Renewables from C$2.25 to C$3.50 and gave the company a “hold” rating in a report on Friday, March 28th. Finally, CIBC lifted their price target on shares of Tidewater Renewables from C$3.00 to C$3.25 and gave the company a “neutral” rating in a report on Friday, March 28th. One analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, Tidewater Renewables presently has an average rating of “Hold” and a consensus target price of C$3.95.

Tidewater Renewables Stock Down 1.9%

The company has a debt-to-equity ratio of 114.04, a quick ratio of 0.10 and a current ratio of 1.15. The stock has a market capitalization of C$91.57 million, a P/E ratio of -0.24 and a beta of 1.36. The stock’s fifty day simple moving average is C$2.83 and its two-hundred day simple moving average is C$1.65.

Tidewater Renewables Company Profile

Tidewater Renewables Ltd has been formed to become a multi-faceted, energy transition company. It is focused on the production of low carbon fuels, including renewable diesel, renewable hydrogen and renewable natural gas, as well as carbon capture. The corporation generates revenue from the sale of renewable products.