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

Tidewater Renewables Ltd. (TSE:LCFS)’s share price hit a new 52-week high during trading on Wednesday . The company traded as high as C$13.50 and last traded at C$13.33, with a volume of 38517 shares changing hands. The stock had previously closed at C$12.85.

Wall Street Analysts Forecast Growth

LCFS has been the subject of a number of research reports. ATB Cormark Capital Markets increased their price objective on 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. National Bank Financial boosted their target price on Tidewater Renewables from C$8.00 to C$13.25 and gave the company a “sector perform” rating in a research note on Friday, May 8th. Finally, Royal Bank Of Canada upped their price target on Tidewater Renewables from C$7.50 to C$12.50 and gave the stock a “sector perform” rating in a research report on Friday, May 8th. One equities research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, Tidewater Renewables presently has a consensus rating of “Hold” and a consensus price target of C$12.58.

Tidewater Renewables Trading Up 3.7%

The company has a debt-to-equity ratio of 120.55, a quick ratio of 0.10 and a current ratio of 1.13. The firm has a fifty day moving average price of C$11.57 and a 200 day moving average price of C$7.74. The company has a market cap of C$486.86 million, a price-to-earnings ratio of 60.59 and a beta of -0.46.

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.