Tidewater Renewables (TSE:LCFS) Trading 10.8% Higher – Here’s Why

Tidewater Renewables Ltd. (TSE:LCFS) shares were up 10.8% during mid-day trading on Friday . The stock traded as high as C$2.83 and last traded at C$2.56. Approximately 97,356 shares changed hands during mid-day trading, an increase of 64% from the average daily volume of 59,344 shares. The stock had previously closed at C$2.31.

Analyst Ratings Changes

Several equities analysts have issued reports on LCFS shares. Royal Bank of Canada boosted their price objective on shares of Tidewater Renewables from C$5.00 to C$5.50 and gave the company a “sector perform” rating in a research note on Monday, January 13th. ATB Capital dropped their price objective on shares of 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. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of C$5.75.

Tidewater Renewables Stock Performance

The company has a current ratio of 1.15, a quick ratio of 0.10 and a debt-to-equity ratio of 114.04. The firm has a market capitalization of C$98.88 million, a price-to-earnings ratio of -0.26 and a beta of 1.36. The stock’s 50 day moving average price is C$0.92 and its two-hundred day moving average price is C$1.43.

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.