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

Tidewater Renewables Ltd. (TSE:LCFS) shares reached a new 52-week high on Tuesday . The stock traded as high as C$13.00 and last traded at C$12.71, with a volume of 31377 shares. The stock had previously closed at C$11.67.

Analysts Set New Price Targets

Several research firms recently weighed in on LCFS. National Bank Financial upped their price objective on shares of 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. Royal Bank Of Canada increased 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 report on Friday, May 8th. Finally, ATB Cormark Capital Markets increased their target price on shares of Tidewater Renewables from C$8.00 to C$12.00 and gave the stock a “speculative buy” rating in a report on Friday, May 8th. One investment analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of C$12.58.

Tidewater Renewables Price Performance

The firm has a market cap of C$477.73 million, a price-to-earnings ratio of 59.45 and a beta of -0.16. The business’s 50-day simple moving average is C$8.35 and its two-hundred day simple moving average is C$5.77. The company has a current ratio of 1.13, a quick ratio of 0.10 and a debt-to-equity ratio of 120.55.

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.