Tidewater Renewables (TSE:LCFS) Hits New 52-Week Low – Time to Sell?

Tidewater Renewables Ltd. (TSE:LCFS) shares reached a new 52-week low on Thursday . The company traded as low as C$0.81 and last traded at C$0.85, with a volume of 17500 shares trading hands. The stock had previously closed at C$0.85.

Analysts Set New Price Targets

Several equities analysts recently commented on the company. ATB Capital dropped their price objective on Tidewater Renewables from C$5.00 to C$3.00 and set a “speculative buy” rating on the stock in a research note on Friday, November 15th. CIBC downgraded Tidewater Renewables from an “outperform” rating to a “neutral” rating and cut their price target for the stock from C$12.00 to C$4.50 in a research note on Friday, August 16th. National Bankshares cut Tidewater Renewables from a “sector perform” rating to an “underperform” rating and lowered their price objective for the company from C$12.00 to C$3.50 in a research note on Friday, August 16th. Finally, Acumen Capital downgraded shares of Tidewater Renewables from a “speculative buy” rating to a “hold” rating and reduced their target price for the stock from C$13.75 to C$4.75 in a research note on Monday, August 19th. One research analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of C$6.68.

Tidewater Renewables Price Performance

The firm’s fifty day moving average price is C$1.89 and its 200-day moving average price is C$5.13. The company has a quick ratio of 0.10, a current ratio of 0.30 and a debt-to-equity ratio of 60.43. The stock has a market cap of C$29.65 million, a P/E ratio of -2.93 and a beta of 1.36.

Tidewater Renewables Company Profile

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.