Tidewater Renewables (TSE:LCFS) Reaches New 12-Month High – Still a Buy?

Tidewater Renewables Ltd. (TSE:LCFS) reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as C$14.68 and last traded at C$14.44, with a volume of 7973 shares trading hands. The stock had previously closed at C$13.85.

Analyst Ratings Changes

LCFS has been the topic of several research reports. ATB Cormark Capital Markets raised their price objective on Tidewater Renewables from C$8.00 to C$12.00 and gave the stock a “speculative buy” rating in a report on Friday, May 8th. Royal Bank Of Canada boosted their target price on Tidewater Renewables from C$7.50 to C$12.50 and gave the company a “sector perform” rating in a report on Friday, May 8th. Finally, National Bank Financial upped their target price on Tidewater Renewables from C$8.00 to C$13.25 and gave the company a “sector perform” rating in a research report on Friday, May 8th. One investment analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of C$12.58.

Tidewater Renewables Stock Performance

The company has a current ratio of 1.13, a quick ratio of 0.10 and a debt-to-equity ratio of 120.55. The stock has a market cap of C$527.41 million, a price-to-earnings ratio of 65.64 and a beta of -0.46. The stock’s 50 day moving average is C$11.87 and its two-hundred day moving average is C$8.02.

Tidewater Renewables Company Profile

Tidewater Renewables is a multi-faceted, energy transition company. The Corporation is focused on the production of low carbon fuels, including renewable diesel and sustainable aviation fuel. The Corporation was created in response to the growing demand for renewable fuels in North America and to capitalize on its potential to efficiently turn a wide variety of renewable feedstocks (such as canola oil, soybean oil, used cooking oil, distillers corn oil, tallow, and other biomasses) into low carbon fuels.