Tidewater Renewables (TSE:LCFS) Stock Price Down 3.8% - Here's What Happened

Tidewater Renewables Ltd. (TSE:LCFS - Get Free Report)'s share price traded down 3.8% during trading on Friday . The company traded as low as C$2.53 and last traded at C$2.55. 2,201 shares were traded during trading, a decline of 94% from the average session volume of 34,853 shares. The stock had previously closed at C$2.65.

Analysts Set New Price Targets

A number of brokerages have issued reports on LCFS. CIBC boosted their price target on shares of Tidewater Renewables from C$3.00 to C$3.25 and gave the stock a "neutral" rating in a research note on Friday, March 28th. ATB Capital raised their price objective on shares of Tidewater Renewables from C$3.00 to C$4.00 and gave the company a "speculative buy" rating in a research note on Friday, March 28th. Finally, Acumen Capital upped their target price on shares of Tidewater Renewables from C$2.25 to C$3.50 and gave the stock a "hold" rating in a research note on Friday, March 28th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of C$3.95.

Tidewater Renewables Price Performance

The company has a 50 day moving average of C$2.67 and a 200 day moving average of C$1.96. The company has a debt-to-equity ratio of 114.04, a quick ratio of 0.10 and a current ratio of 1.15. The stock has a market capitalization of C$90.53 million, a price-to-earnings ratio of -0.24 and a beta of 1.36.

Tidewater Renewables Company Profile

Tidewater Renewables Ltd has been formed to become a multi-faceted, energy transition company. It is focused on the production of low carbon fuels, including renewable diesel, renewable hydrogen and renewable natural gas, as well as carbon capture. The corporation generates revenue from the sale of renewable products.