Tidewater Renewables (TSE:LCFS) Hits New 12-Month Low – Here’s Why

Tidewater Renewables Ltd. (TSE:LCFS) shares reached a new 52-week low during trading on Thursday . The stock traded as low as C$1.22 and last traded at C$1.30, with a volume of 23165 shares trading hands. The stock had previously closed at C$1.85.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on LCFS shares. National Bankshares lowered Tidewater Renewables from a “sector perform” rating to an “underperform” rating and dropped their target price for the company from C$12.00 to C$3.50 in a research report on Friday, August 16th. CIBC cut Tidewater Renewables from an “outperform” rating to a “neutral” rating and reduced their price target for the company from C$12.00 to C$4.50 in a research report on Friday, August 16th. ATB Capital dropped their price objective on Tidewater Renewables from C$14.00 to C$8.00 and set an “outperform” rating on the stock in a research note on Friday, August 16th. Finally, Acumen Capital cut shares of Tidewater Renewables from a “speculative buy” rating to a “hold” rating and decreased their target price for the company from C$13.75 to C$4.75 in a research note on Monday, August 19th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of C$7.39.

Tidewater Renewables Trading Down 37.8 %

The company has a market cap of C$40.11 million, a price-to-earnings ratio of -6.38 and a beta of 1.36. The business’s 50 day moving average price is C$2.06 and its 200-day moving average price is C$5.37. The company has a current ratio of 0.30, a quick ratio of 0.10 and a debt-to-equity ratio of 60.43.

Tidewater Renewables Company Profile

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.