Tidewater Renewables (TSE:LCFS) Shares Down 4% - Here's Why

Shares of Tidewater Renewables Ltd. (TSE:LCFS - Get Free Report) traded down 4% during mid-day trading on Monday . The company traded as low as C$2.90 and last traded at C$2.90. 3,000 shares were traded during trading, a decline of 94% from the average session volume of 50,689 shares. The stock had previously closed at C$3.02.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. Royal Bank of Canada raised their target price on Tidewater Renewables from C$5.00 to C$5.50 and gave the company a "sector perform" rating in a report on Monday, January 13th. Acumen Capital increased their target price on shares of Tidewater Renewables from C$2.25 to C$3.50 and gave the company a "hold" rating in a research report on Friday, March 28th. CIBC lifted their price objective on Tidewater Renewables from C$3.00 to C$3.25 and gave the stock a "neutral" rating in a report on Friday, March 28th. Finally, ATB Capital upped their price objective on shares of Tidewater Renewables from C$3.00 to C$4.00 and gave the company a "speculative buy" rating in a report on Friday, March 28th. One analyst has rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of C$4.79.

Tidewater Renewables Trading Down 4.8 %

The firm has a 50 day simple moving average of C$2.39 and a 200 day simple moving average of C$1.56. The firm has a market cap of C$104.11 million, a P/E ratio of -0.27 and a beta of 1.36. The company has a debt-to-equity ratio of 114.04, a quick ratio of 0.10 and a current ratio of 1.15.

Tidewater Renewables Company Profile

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.