Tidewater Renewables (TSE:LCFS) Sets New 1-Year High – Here’s What Happened

Tidewater Renewables Ltd. (TSE:LCFS) reached a new 52-week high during mid-day trading on Wednesday. The stock traded as high as C$24.11 and last traded at C$23.87, with a volume of 4670 shares changing hands. The stock had previously closed at C$23.83.

Analysts Set New Price Targets

Several research firms recently issued reports on LCFS. ATB Cormark Capital Markets boosted their target price on shares of Tidewater Renewables from C$16.00 to C$19.00 and gave the company a “speculative buy” rating in a research note on Friday, August 14th. Royal Bank Of Canada raised Tidewater Renewables from a “sector perform” rating to an “outperform” rating and increased their price target for the company from C$12.50 to C$25.00 in a report on Friday, August 14th. Finally, National Bank Financial lifted their price target on shares of Tidewater Renewables from C$13.25 to C$22.75 and gave the company an “outperform” rating in a research report on Friday, August 14th. Three equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of C$22.25.

Tidewater Renewables Stock Down 1.5%

The firm’s 50 day moving average price is C$19.24 and its two-hundred day moving average price is C$13.70. The firm has a market cap of C$865.90 million, a price-to-earnings ratio of 94.05 and a beta of -0.59. The company has a debt-to-equity ratio of 109.35, a current ratio of 1.13 and a quick ratio of 0.10.

Tidewater Renewables (TSE:LCFS) last issued its quarterly earnings results on Thursday, August 13th. The company reported C$0.13 earnings per share (EPS) for the quarter. Tidewater Renewables had a net margin of 0.09% and a return on equity of 0.20%. The business had revenue of C$160.60 million for the quarter. As a group, sell-side analysts forecast that Tidewater Renewables Ltd. will post 0.15 earnings per share for the current fiscal year.

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.