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

Tidewater Renewables Ltd. (TSE:LCFS) shares reached a new 52-week low on Friday . The company traded as low as C$1.75 and last traded at C$1.75, with a volume of 14914 shares changing hands. The stock had previously closed at C$1.85.

Analyst Upgrades and Downgrades

LCFS has been the subject of a number of research analyst reports. Acumen Capital downgraded Tidewater Renewables from a “speculative buy” rating to a “hold” rating and lowered their target price for the stock from C$13.75 to C$4.75 in a report on Monday, August 19th. ATB Capital dropped their price target on shares of Tidewater Renewables from C$14.00 to C$8.00 and set an “outperform” rating on the stock in a research report on Friday, August 16th. National Bankshares cut shares of Tidewater Renewables from a “sector perform” rating to an “underperform” rating and lowered their price target for the stock from C$12.00 to C$3.50 in a report on Friday, August 16th. Finally, CIBC lowered Tidewater Renewables from an “outperform” rating to a “neutral” rating and cut their price target for the stock from C$12.00 to C$4.50 in a report on Friday, August 16th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of C$8.34.

Tidewater Renewables Price Performance

The company has a market capitalization of C$60.69 million, a price-to-earnings ratio of -6.00 and a beta of 1.36. The stock’s 50-day simple moving average is C$2.12 and its two-hundred day simple moving average is C$5.54. The company has a quick ratio of 0.10, a current ratio of 0.30 and a debt-to-equity ratio of 60.43.

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.