Tidewater Renewables (TSE:LCFS) Reaches New 1-Year Low – Time to Sell?

Tidewater Renewables Ltd. (TSE:LCFS) hit a new 52-week low on Thursday . The company traded as low as C$1.22 and last traded at C$1.30, with a volume of 23165 shares trading hands. The stock had previously closed at C$1.85.

Analyst Ratings Changes

A number of analysts have recently weighed in on LCFS shares. ATB Capital reduced their price target on shares of 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. Acumen Capital cut Tidewater Renewables from a “speculative buy” rating to a “hold” rating and dropped their price target for the stock from C$13.75 to C$4.75 in a research note on Monday, August 19th. CIBC lowered shares of Tidewater Renewables from an “outperform” rating to a “neutral” rating and reduced their price objective for the company from C$12.00 to C$4.50 in a research note on Friday, August 16th. Finally, National Bankshares downgraded shares of Tidewater Renewables from a “sector perform” rating to an “underperform” rating and dropped their target price for the stock from C$12.00 to C$3.50 in a research report on Friday, August 16th. One analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of C$7.39.

Tidewater Renewables Trading Down 37.8 %

The company has a quick ratio of 0.10, a current ratio of 0.30 and a debt-to-equity ratio of 60.43. The company has a market capitalization of C$40.11 million, a price-to-earnings ratio of -6.38 and a beta of 1.36. The company has a 50-day moving average price of C$2.06 and a 200-day moving average price of C$5.37.

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.