Tidewater Renewables (TSE:LCFS) Shares Up 98.4% – Still a Buy?

Tidewater Renewables Ltd. (TSE:LCFS) shares shot up 98.4% during mid-day trading on Friday . The company traded as high as C$1.45 and last traded at C$1.25. 504,966 shares changed hands during trading, an increase of 1,726% from the average session volume of 27,659 shares. The stock had previously closed at C$0.63.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on LCFS. ATB Capital reduced their price objective on Tidewater Renewables from C$5.00 to C$3.00 and set a “speculative buy” rating for the company in a research report on Friday, November 15th. Royal Bank of Canada boosted their price target on Tidewater Renewables from C$5.00 to C$5.50 and gave the stock a “sector perform” rating in a research report on Monday, January 13th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of C$5.75.

Tidewater Renewables Stock Up 158.7 %

The business has a 50-day simple moving average of C$0.77 and a two-hundred day simple moving average of C$1.50. The company has a market cap of C$56.75 million, a price-to-earnings ratio of -0.15 and a beta of 1.36. The company has a quick ratio of 0.10, a current ratio of 1.15 and a debt-to-equity ratio of 114.04.

About Tidewater Renewables

Tidewater Renewables Ltd has been formed to become a multi-faceted, energy transition company. It is focused on the production of low carbon fuels, including renewable diesel, renewable hydrogen and renewable natural gas, as well as carbon capture. The corporation generates revenue from the sale of renewable products.