Tidewater Renewables (TSE:LCFS) Sets New 12-Month High – Here’s Why

Shares of Tidewater Renewables Ltd. (TSE:LCFS) hit a new 52-week high on Wednesday . The company traded as high as C$17.35 and last traded at C$17.35, with a volume of 1649 shares trading hands. The stock had previously closed at C$16.79.

Wall Street Analysts Forecast Growth

LCFS has been the topic of several recent research reports. Royal Bank Of Canada upped their target price on shares of Tidewater Renewables from C$7.50 to C$12.50 and gave the stock a “sector perform” rating in a research note on Friday, May 8th. National Bank Financial raised their price target on shares of Tidewater Renewables from C$8.00 to C$13.25 and gave the company a “sector perform” rating in a research report on Friday, May 8th. Finally, ATB Cormark Capital Markets boosted their price target on shares of Tidewater Renewables from C$8.00 to C$12.00 and gave the stock a “speculative buy” rating in a research note on Friday, May 8th. One equities research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of C$12.58.

Tidewater Renewables Stock Up 4.1%

The business has a 50-day simple moving average of C$13.69 and a 200-day simple moving average of C$9.75. The company has a debt-to-equity ratio of 120.55, a quick ratio of 0.10 and a current ratio of 1.13. The company has a market cap of C$638.07 million, a price-to-earnings ratio of 79.41 and a beta of -0.43.

About Tidewater Renewables

Tidewater Renewables is a multi-faceted, energy transition company. The Corporation is focused on the production of low carbon fuels, including renewable diesel and sustainable aviation fuel. The Corporation was created in response to the growing demand for renewable fuels in North America and to capitalize on its potential to efficiently turn a wide variety of renewable feedstocks (such as canola oil, soybean oil, used cooking oil, distillers corn oil, tallow, and other biomasses) into low carbon fuels.