Tidewater Renewables (TSE:LCFS) Sets New 52-Week High - What's Next?

Key Points

• Shares of Tidewater Renewables hit a new 52-week high of C$9.49 (last C$9.47) on Thursday, with roughly 18,579 shares traded.
• ATB Cormark raised its price target from C$5.00 to C$8.00 and issued a "speculative buy"; the Street consensus is a Buy with an average target of C$8.00.
• Tidewater is a producer of renewable diesel and sustainable aviation fuel, and its recent technicals and fundamentals show a market cap of C$343.2M, a high P/E of 104.7, and elevated leverage (debt-to-equity 128.35) with the 50-day MA (C$6.67) well above the 200-day MA (C$5.03).

Shares of Tidewater Renewables Ltd. (TSE:LCFS - Get Free Report) hit a new 52-week high during trading on Thursday . The stock traded as high as C$9.49 and last traded at C$9.47, with a volume of 18579 shares. The stock had previously closed at C$9.33.

Wall Street Analysts Forecast Growth

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

Tidewater Renewables Stock Up 1.0%

The business's 50-day moving average is C$6.67 and its two-hundred day moving average is C$5.03. The company has a debt-to-equity ratio of 128.35, a quick ratio of 0.10 and a current ratio of 1.38. The firm has a market capitalization of C$343.22 million, a price-to-earnings ratio of 104.67 and a beta of -0.26.

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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