Tidewater Renewables (TSE:LCFS) Stock Price Down 6.5% - Here's What Happened

Key Points

• Tidewater Renewables Ltd. experienced a significant 6.5% drop in share price, closing at C$2.90, amid a notable decrease in trading volume.
• The company focuses on low carbon fuels including renewable diesel and hydrogen, positioning itself within the energy transition sector.
• Tidewater Renewables has a high debt-to-equity ratio of 114.04, indicating a substantial reliance on borrowed funds to finance its operations.

Shares of Tidewater Renewables Ltd. (TSE:LCFS - Get Free Report) fell 6.5% during trading on Tuesday . The stock traded as low as C$2.90 and last traded at C$2.90. 4,050 shares were traded during trading, a decline of 86% from the average session volume of 28,958 shares. The stock had previously closed at C$3.10.

Tidewater Renewables Stock Down 0.3%

The company's 50-day moving average is C$2.67 and its 200 day moving average is C$2.40. 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 company has a market capitalization of C$104.45 million, a PE ratio of -0.27 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.