Tidewater Midstream and Infrastructure (TSE:TWM) Shares Up 66.7% – Here’s What Happened

Tidewater Midstream and Infrastructure Ltd. (TSE:TWM)’s stock price rose 66.7% during trading on Saturday . The stock traded as high as C$0.21 and last traded at C$0.20. Approximately 6,932,558 shares changed hands during trading, an increase of 1,017% from the average daily volume of 620,391 shares. The stock had previously closed at C$0.12.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on TWM. Scotiabank cut their target price on Tidewater Midstream and Infrastructure from C$0.45 to C$0.30 in a research report on Friday, November 15th. Atb Cap Markets cut shares of Tidewater Midstream and Infrastructure from a “strong-buy” rating to a “moderate buy” rating in a research note on Friday, November 15th. Finally, CIBC boosted their target price on shares of Tidewater Midstream and Infrastructure from C$0.30 to C$0.40 and gave the stock a “neutral” rating in a report on Thursday, January 9th. One analyst has rated the stock with a sell rating and five have given a hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of C$0.66.

Tidewater Midstream and Infrastructure Price Performance

The stock has a 50-day moving average of C$0.17 and a two-hundred day moving average of C$0.23. The company has a current ratio of 1.23, a quick ratio of 0.55 and a debt-to-equity ratio of 183.03. The firm has a market cap of C$86.21 million, a price-to-earnings ratio of -0.24, a price-to-earnings-growth ratio of 0.64 and a beta of 1.67.

About Tidewater Midstream and Infrastructure

Tidewater Midstream and Infrastructure Ltd is a Canadian company that is engaged in providing midstream infrastructure and a natural gas storage facility. It mainly focuses on the purchase, sale, and transportation of Natural Gas Liquids (NGLs) such as propane and natural gasoline throughout North America and export to premium markets.