Tidewater Renewables (TSE:LCFS) Hits New 12-Month High - Should You Buy?

Key Points

• Tidewater Renewables (TSE:LCFS) hit a new 52-week high of C$8.30 on Thursday, trading up about 5.8% with roughly 21,736 shares changing hands.
• ATB Cormark raised its price target from C$5.00 to C$8.00 and gave a speculative buy rating; MarketBeat shows a consensus Buy with an average target of C$8.00.
• The company produces renewable diesel and sustainable aviation fuel and has a market cap of C$311.9M, but carries a high PE (95.11) and elevated debt-to-equity (128.35), indicating strong growth expectations alongside a leveraged balance sheet.

Tidewater Renewables Ltd. (TSE:LCFS - Get Free Report) hit a new 52-week high during mid-day trading on Thursday . The company traded as high as C$8.30 and last traded at C$8.30, with a volume of 21736 shares trading hands. The stock had previously closed at C$8.09.

Analysts Set New Price Targets

Separately, ATB Cormark Capital Markets lifted their price target on shares of Tidewater Renewables from C$5.00 to C$8.00 and gave the company a "speculative buy" rating in a research report on Friday, March 27th. One analyst has rated the stock with a Buy rating, According to MarketBeat, Tidewater Renewables currently has an average rating of "Buy" and an average price target of C$8.00.

Tidewater Renewables Stock Up 5.8%

The company has a market capitalization of C$311.88 million, a PE ratio of 95.11 and a beta of -0.26. The stock's 50 day moving average is C$5.80 and its 200 day moving average is C$4.75. The company has a debt-to-equity ratio of 128.35, a quick ratio of 0.10 and a current ratio of 1.38.

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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