Tidewater Midstream and Infrastructure (TSE:TWM) Trading Up 66.7% – Here’s Why

Shares of Tidewater Midstream and Infrastructure Ltd. (TSE:TWM) shot up 66.7% during mid-day trading on Saturday . The company traded as high as C$0.21 and last traded at C$0.20. 6,932,558 shares traded hands during mid-day trading, an increase of 1,017% from the average session volume of 620,391 shares. The stock had previously closed at C$0.12.

Analysts Set New Price Targets

A number of research firms recently issued reports on TWM. Atb Cap Markets lowered Tidewater Midstream and Infrastructure from a “strong-buy” rating to a “moderate buy” rating in a research note on Friday, November 15th. Scotiabank cut their price target on Tidewater Midstream and Infrastructure from C$0.45 to C$0.30 in a report on Friday, November 15th. Finally, CIBC boosted their price target on Tidewater Midstream and Infrastructure from C$0.30 to C$0.40 and gave the company a “neutral” rating in a report on Thursday, January 9th. One research analyst has rated the stock with a sell rating and five have given a hold rating to the company’s stock. Based on data from MarketBeat, Tidewater Midstream and Infrastructure currently has an average rating of “Hold” and an average target price of C$0.66.

Tidewater Midstream and Infrastructure Trading Up 66.7 %

The company has a current ratio of 1.23, a quick ratio of 0.55 and a debt-to-equity ratio of 183.03. The business’s 50-day simple moving average is C$0.17 and its two-hundred day simple moving average is C$0.23. The company has a market capitalization of C$86.21 million, a PE ratio of -0.24, a PEG ratio of 0.64 and a beta of 1.67.

About Tidewater Midstream and Infrastructure

Tidewater Midstream and Infrastructure Ltd is a Canadian company that is engaged in providing midstream infrastructure and a natural gas storage facility. It mainly focuses on the purchase, sale, and transportation of Natural Gas Liquids (NGLs) such as propane and natural gasoline throughout North America and export to premium markets.