Tidewater Renewables (TSE:LCFS) Shares Up 10% – Still a Buy?

Tidewater Renewables Ltd. (TSE:LCFS)’s share price was up 10% during trading on Thursday . The stock traded as high as C$2.85 and last traded at C$2.65. Approximately 70,471 shares were traded during trading, an increase of 29% from the average daily volume of 54,629 shares. The stock had previously closed at C$2.41.

Wall Street Analyst Weigh In

Separately, Royal Bank of Canada upped their price target on shares of Tidewater Renewables from C$5.00 to C$5.50 and gave the stock a “sector perform” rating in a research note on Monday, January 13th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, Tidewater Renewables currently has an average rating of “Hold” and an average price target of C$5.04.

Tidewater Renewables Stock Performance

The company’s 50-day simple moving average is C$1.34 and its 200-day simple moving average is C$1.42. The stock has a market cap of C$107.59 million, a price-to-earnings ratio of -0.28 and a beta of 1.36. The company has a quick ratio of 0.10, a current ratio of 1.15 and a debt-to-equity ratio of 114.04.

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.