Tidewater Renewables (TSE:LCFS) Shares Up 3.2% - What's Next?

Key Points

• Tidewater Renewables shares rose 3.2% to C$18.83, reaching as high as C$19.45, while trading volume surged 174% above the average session level.
• Analysts recently raised their price targets and ratings, with a consensus “Buy” rating and an average target price of C$22.25.
• The company reported quarterly revenue of C$160.60 million and earnings of C$0.13 per share, but continues to show limited profitability, including a 0.09% net margin and 0.20% return on equity.

Tidewater Renewables Ltd. (TSE:LCFS - Get Free Report)'s stock price traded up 3.2% during trading on Tuesday . The stock traded as high as C$19.45 and last traded at C$18.83. 61,006 shares traded hands during mid-day trading, an increase of 174% from the average session volume of 22,291 shares. The stock had previously closed at C$18.25.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on LCFS. National Bank Financial lifted their price target on Tidewater Renewables from C$13.25 to C$22.75 and gave the company an "outperform" rating in a report on Friday, August 14th. Royal Bank Of Canada raised Tidewater Renewables from a "sector perform" rating to an "outperform" rating and increased their price objective for the stock from C$12.50 to C$25.00 in a report on Friday, August 14th. Finally, ATB Cormark Capital Markets raised their target price on Tidewater Renewables from C$16.00 to C$19.00 and gave the company a "speculative buy" rating in a research report on Friday, August 14th. Three equities research analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock has a consensus rating of "Buy" and an average target price of C$22.25.

Tidewater Renewables Stock Performance

The stock has a market cap of C$687.97 million, a price-to-earnings ratio of 94.05 and a beta of -0.59. The company's 50 day simple moving average is C$16.69 and its 200 day simple moving average is C$11.84. The company has a debt-to-equity ratio of 109.35, a quick ratio of 0.10 and a current ratio of 1.13.

Tidewater Renewables (TSE:LCFS - Get Free Report) last issued its quarterly earnings results on Thursday, August 13th. The company reported C$0.13 earnings per share for the quarter. Tidewater Renewables had a net margin of 0.09% and a return on equity of 0.20%. The company had revenue of C$160.60 million during the quarter. On average, equities research analysts anticipate that Tidewater Renewables Ltd. will post 0.15 earnings per share for the current year.

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.

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