Brokerages Set Tidewater Renewables Ltd. (TSE:LCFS) Price Target at C$8.34

Tidewater Renewables Ltd. (TSE:LCFS) has been given an average recommendation of “Hold” by the six research firms that are presently covering the company, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, three have given a hold recommendation and two have given a buy recommendation to the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is C$8.34.

A number of research analysts have commented on LCFS shares. ATB Capital reduced their price objective on Tidewater Renewables from C$14.00 to C$8.00 and set an “outperform” rating on the stock in a research note on Friday, August 16th. Acumen Capital lowered Tidewater Renewables from a “speculative buy” rating to a “hold” rating and reduced their price target for the stock from C$13.75 to C$4.75 in a research report on Monday, August 19th. National Bankshares downgraded shares of Tidewater Renewables from a “sector perform” rating to an “underperform” rating and lowered their price objective for the company from C$12.00 to C$3.50 in a research report on Friday, August 16th. Finally, CIBC cut shares of Tidewater Renewables from an “outperform” rating to a “neutral” rating and reduced their target price for the stock from C$12.00 to C$4.50 in a research report on Friday, August 16th.

Tidewater Renewables Stock Performance

TSE:LCFS opened at C$2.69 on Tuesday. Tidewater Renewables has a twelve month low of C$2.30 and a twelve month high of C$9.20. The firm has a market capitalization of C$93.83 million, a price-to-earnings ratio of -9.28 and a beta of 1.45. The company has a current ratio of 0.30, a quick ratio of 0.10 and a debt-to-equity ratio of 60.43. The firm’s fifty day simple moving average is C$5.93 and its 200 day simple moving average is C$6.79.

About Tidewater Renewables

Tidewater Renewables Ltd. engages in production of renewable fuel in North America. It intends to focus on the production of low carbon fuels, including renewable diesel, renewable hydrogen, and renewable natural gas, as well as carbon capture. The company intends to supply low carbon fuels to investment grade counterparties, existing customers, government entities, Indigenous groups, and others in the transportation, utilities, refining, marketing, and power industries.