Tidewater Renewables (TSE:LCFS) Trading Up 10.8% – Should You Buy?

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

Wall Street Analyst Weigh In

Several research analysts have commented on LCFS shares. 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 for the company in a report on Friday, November 15th. Royal Bank of Canada increased their price target on 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. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, Tidewater Renewables currently has a consensus rating of “Hold” and a consensus price target of C$5.75.

Tidewater Renewables Price 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’s 50-day moving average price is C$0.88 and its 200-day moving average price is C$1.44. The stock has a market capitalization of C$97.49 million, a PE ratio of -0.26 and a beta of 1.36.

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.