Tidewater Renewables (TSE:LCFS) Reaches New 52-Week Low – Here’s What Happened

Tidewater Renewables Ltd. (TSE:LCFS) shares reached a new 52-week low during mid-day 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.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on LCFS shares. Acumen Capital downgraded shares of Tidewater Renewables from a “speculative buy” rating to a “hold” rating and dropped their price target for the company from C$13.75 to C$4.75 in a report on Monday, August 19th. ATB Capital dropped their target price on shares of Tidewater Renewables from C$5.00 to C$3.00 and set a “speculative buy” rating on the stock in a report on Friday. National Bankshares lowered shares of Tidewater Renewables from a “sector perform” rating to an “underperform” rating and decreased their target price for the company from C$12.00 to C$3.50 in a research note on Friday, August 16th. Finally, CIBC cut Tidewater Renewables from an “outperform” rating to a “neutral” rating and lowered their price target for the company from C$12.00 to C$4.50 in a report on Friday, August 16th. One analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of C$6.68.

Tidewater Renewables Price Performance

The company has a market capitalization of C$35.58 million, a P/E ratio of -3.52 and a beta of 1.36. The company has a debt-to-equity ratio of 60.43, a current ratio of 0.30 and a quick ratio of 0.10. The firm’s 50-day moving average is C$2.00 and its 200-day moving average is C$5.29.

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.