Tidewater Renewables (TSE:LCFS) Price Target Cut to C$3.00 by Analysts at ATB Capital

Tidewater Renewables (TSE:LCFS) had its price target decreased by ATB Capital from C$5.00 to C$3.00 in a research report report published on Friday,BayStreet.CA reports. ATB Capital currently has a speculative buy rating on the stock.

A number of other brokerages have also weighed in on LCFS. CIBC lowered shares of Tidewater Renewables from an “outperform” rating to a “neutral” rating and dropped their target price for the stock from C$12.00 to C$4.50 in a research report on Friday, August 16th. Acumen Capital lowered Tidewater Renewables from a “speculative buy” rating to a “hold” rating and cut their price objective for the company from C$13.75 to C$4.75 in a research report on Monday, August 19th. Finally, National Bankshares cut Tidewater Renewables from a “sector perform” rating to an “underperform” rating and reduced their target price for the stock from C$12.00 to C$3.50 in a report on Friday, August 16th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, Tidewater Renewables presently has an average rating of “Hold” and a consensus target price of C$6.68.

Tidewater Renewables Price Performance

Shares of LCFS traded down C$0.13 during trading hours on Friday, reaching C$1.02. 37,891 shares of the stock traded hands, compared to its average volume of 12,502. The company has a market cap of C$35.58 million, a P/E ratio of -3.52 and a beta of 1.36. 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 company’s 50-day moving average price is C$2.00 and its two-hundred day moving average price is C$5.29. Tidewater Renewables has a 52-week low of C$0.90 and a 52-week high of C$9.20.

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.