Tidewater Renewables (TSE:LCFS) Stock Price Up 2.7% - Here's What Happened

Tidewater Renewables Ltd. (TSE:LCFS - Get Free Report)'s share price rose 2.7% during mid-day trading on Monday . The stock traded as high as C$1.91 and last traded at C$1.90. Approximately 15,960 shares traded hands during mid-day trading, an increase of 34% from the average daily volume of 11,895 shares. The stock had previously closed at C$1.85.

Analyst Ratings Changes

LCFS has been the topic of several recent research reports. Acumen Capital cut Tidewater Renewables from a "speculative buy" rating to a "hold" rating and decreased their price target for the company from C$13.75 to C$4.75 in a report on Monday, August 19th. CIBC cut Tidewater Renewables from an "outperform" rating to a "neutral" rating and decreased their price target for the company from C$12.00 to C$4.50 in a report on Friday, August 16th. National Bankshares cut Tidewater Renewables from a "sector perform" rating to an "underperform" rating and decreased their price target for the company from C$12.00 to C$3.50 in a report on Friday, August 16th. Finally, ATB Capital reduced their target price on Tidewater Renewables from C$14.00 to C$8.00 and set an "outperform" rating on the stock in a report on Friday, August 16th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, Tidewater Renewables currently has an average rating of "Hold" and an average target price of C$8.34.

Tidewater Renewables Stock Performance

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$66.27 million, a P/E ratio of -6.55 and a beta of 1.36. The stock has a fifty day simple moving average of C$2.23 and a 200-day simple moving average of C$5.84.

About Tidewater Renewables

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.