Tidewater Renewables (TSE:LCFS) Hits New 52-Week Low – Time to Sell?

Tidewater Renewables Ltd. (TSE:LCFS)’s stock price reached a new 52-week low during trading on Friday . The company traded as low as C$1.75 and last traded at C$1.75, with a volume of 14914 shares traded. The stock had previously closed at C$1.85.

Wall Street Analysts Forecast Growth

LCFS has been the topic of a number of analyst reports. Acumen Capital cut shares of Tidewater Renewables from a “speculative buy” rating to a “hold” rating and dropped their price objective for the stock from C$13.75 to C$4.75 in a report on Monday, August 19th. National Bankshares downgraded shares of Tidewater Renewables from a “sector perform” rating to an “underperform” rating and reduced their price target for the company from C$12.00 to C$3.50 in a report on Friday, August 16th. ATB Capital cut their price target 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. Finally, CIBC lowered Tidewater Renewables from an “outperform” rating to a “neutral” rating and decreased their target price for the stock from C$12.00 to C$4.50 in a report on Friday, August 16th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of C$8.34.

Tidewater Renewables Stock Performance

The company has a market capitalization of C$60.69 million, a P/E ratio of -6.00 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 fifty day moving average is C$2.12 and its 200 day moving average is C$5.54.

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.