ATB Capital Lowers Tidewater Renewables (TSE:LCFS) Price Target to C$3.00

Tidewater Renewables (TSE:LCFS) had its price target reduced by research analysts at ATB Capital from C$5.00 to C$3.00 in a report issued on Friday,BayStreet.CA reports. The brokerage presently has a “speculative buy” rating on the stock. ATB Capital’s target price indicates a potential upside of 194.12% from the company’s current price.

Other research analysts also recently issued research reports about the company. CIBC downgraded Tidewater Renewables from an “outperform” rating to a “neutral” rating and dropped their price target for the stock from C$12.00 to C$4.50 in a research note on Friday, August 16th. National Bankshares downgraded Tidewater Renewables from a “sector perform” rating to an “underperform” rating and decreased their price target for the company from C$12.00 to C$3.50 in a research note on Friday, August 16th. Finally, Acumen Capital downgraded Tidewater Renewables from a “speculative buy” rating to a “hold” rating and decreased their price target for the company from C$13.75 to C$4.75 in a research note on Monday, August 19th. One analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of C$6.68.

Tidewater Renewables Price Performance

LCFS opened at C$1.02 on Friday. The stock’s 50-day moving average price is C$2.00 and its 200 day moving average price is C$5.27. Tidewater Renewables has a 12-month low of C$0.90 and a 12-month high of C$9.20. 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 has a market cap of C$35.58 million, a price-to-earnings ratio of -3.52 and a beta of 1.36.

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.