Tidewater Renewables (TSE:LCFS) Stock Breaks Above 50-Day Moving Average – Time to Sell?

Tidewater Renewables Ltd. (TSE:LCFS)’s stock price passed above its fifty day moving average during trading on Thursday. The stock has a fifty day moving average of C$21.34 and traded as high as C$23.79. Tidewater Renewables shares last traded at C$22.78, with a volume of 61,009 shares trading hands.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. ATB Cormark Capital Markets raised their target price on Tidewater Renewables from C$19.00 to C$21.00 and gave the stock a “speculative buy” rating in a research note on Friday, October 23rd. National Bank Financial boosted their price target on Tidewater Renewables from C$13.25 to C$22.75 and gave the company an “outperform” rating in a research note on Friday, August 14th. Finally, Royal Bank Of Canada upgraded Tidewater Renewables from a “sector perform” rating to an “outperform” rating and increased their price target for the stock from C$12.50 to C$25.00 in a report on Friday, August 14th. Three analysts have rated the stock with a Buy rating. Based on data from MarketBeat, Tidewater Renewables currently has an average rating of “Buy” and a consensus price target of C$22.92.

Tidewater Renewables Price Performance

The company has a debt-to-equity ratio of 109.35, a current ratio of 1.13 and a quick ratio of 0.10. The firm has a market capitalization of C$832.29 million, a price-to-earnings ratio of 94.05 and a beta of -1.57. The business’s fifty day simple moving average is C$21.34 and its 200 day simple moving average is C$13.50.

Tidewater Renewables (TSE:LCFS) last posted its quarterly earnings results on Thursday, November 12th. The company reported C($0.43) earnings per share for the quarter. The company had revenue of C$239.90 million during the quarter. Tidewater Renewables had a net margin of 0.09% and a return on equity of 0.20%. On average, research analysts forecast that Tidewater Renewables Ltd. will post 0.15 EPS for the current year.

Tidewater Renewables Company Profile

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.