Tidewater Renewables (TSE:LCFS) Hits New 52-Week High – What’s Next?

Tidewater Renewables Ltd. (TSE:LCFS) reached a new 52-week high on Monday . The stock traded as high as C$16.48 and last traded at C$16.40, with a volume of 13573 shares. The stock had previously closed at C$16.03.

Analysts Set New Price Targets

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

Tidewater Renewables Stock Performance

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 firm has a market cap of C$607.39 million, a P/E ratio of 75.59 and a beta of -0.46. The company’s 50 day moving average is C$12.64 and its 200 day moving average is C$8.72.

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.