Tidewater Renewables (TSE:LCFS) Given New C$3.00 Price Target at ATB Capital

Tidewater Renewables (TSE:LCFS) had its price target lowered by ATB Capital from C$5.00 to C$3.00 in a report issued on Friday,BayStreet.CA reports. The brokerage presently has a “speculative buy” rating on the stock. ATB Capital’s price target would suggest a potential upside of 180.37% from the stock’s previous close.

Several other equities research analysts have also recently commented on the stock. National Bankshares cut shares of Tidewater Renewables from a “sector perform” rating to an “underperform” rating and dropped their target price for the stock from C$12.00 to C$3.50 in a research report on Friday, August 16th. Acumen Capital cut Tidewater Renewables from a “speculative buy” rating to a “hold” rating and lowered their target price for the company from C$13.75 to C$4.75 in a research note on Monday, August 19th. Finally, CIBC cut Tidewater Renewables from an “outperform” rating to a “neutral” rating and reduced their price target for the stock from C$12.00 to C$4.50 in a research note on Friday, August 16th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of C$6.68.

Tidewater Renewables Price Performance

Shares of Tidewater Renewables stock traded down C$0.08 on Friday, hitting C$1.07. 10,091 shares of the company traded hands, compared to its average volume of 12,375. The firm’s 50-day simple moving average is C$2.03 and its 200 day simple moving average is C$5.33. Tidewater Renewables has a 12-month low of C$0.90 and a 12-month high of C$9.20. The company has a current ratio of 0.30, a quick ratio of 0.10 and a debt-to-equity ratio of 60.43. The company has a market cap of C$37.32 million, a P/E ratio of -3.69 and a beta of 1.36.

About Tidewater Renewables

Tidewater Renewables Ltd. engages in production of renewable fuel in North America. It intends to focus on the production of low carbon fuels, including renewable diesel, renewable hydrogen, and renewable natural gas, as well as carbon capture. The company intends to supply low carbon fuels to investment grade counterparties, existing customers, government entities, Indigenous groups, and others in the transportation, utilities, refining, marketing, and power industries.