Tidewater Renewables (TSE:LCFS) Shares Down 1.1%

Tidewater Renewables Ltd. (TSE:LCFS)’s share price fell 1.1% during trading on Wednesday . The stock traded as low as C$7.31 and last traded at C$7.31. 3,588 shares traded hands during mid-day trading, a decline of 47% from the average session volume of 6,710 shares. The stock had previously closed at C$7.39.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Stifel Nicolaus decreased their price target on shares of Tidewater Renewables from C$10.00 to C$9.00 and set a “hold” rating on the stock in a research note on Thursday, April 25th. Royal Bank of Canada lowered their target price on shares of Tidewater Renewables from C$15.00 to C$12.00 and set an “outperform” rating for the company in a research note on Friday, March 15th. CIBC cut their price target on Tidewater Renewables from C$13.00 to C$12.00 in a report on Friday, March 15th. Finally, Cormark decreased their price objective on Tidewater Renewables from C$15.75 to C$10.00 in a report on Friday, March 15th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of C$11.93.

Tidewater Renewables Stock Down 1.1 %

The firm’s 50 day moving average price is C$7.65 and its two-hundred day moving average price is C$7.40. The company has a quick ratio of 0.10, a current ratio of 0.26 and a debt-to-equity ratio of 61.05. The firm has a market capitalization of C$254.53 million, a PE ratio of -20.89 and a beta of 1.44.

About Tidewater Renewables

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.