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

Tidewater Midstream and Infrastructure Ltd. (TSE:TWM)’s share price was 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. Approximately 6,932,558 shares traded hands during trading, an increase of 1,017% from the average daily volume of 620,391 shares. The stock had previously closed at C$0.12.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. Atb Cap Markets cut shares of Tidewater Midstream and Infrastructure from a “strong-buy” rating to a “moderate buy” rating in a research report on Friday, November 15th. CIBC raised their price objective on shares of Tidewater Midstream and Infrastructure from C$0.30 to C$0.40 and gave the stock a “neutral” rating in a report on Thursday, January 9th. Finally, Scotiabank reduced their target price on Tidewater Midstream and Infrastructure from C$0.45 to C$0.30 in a report on Friday, November 15th. One investment analyst has rated the stock with a sell rating and five have issued a hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of C$0.66.

Tidewater Midstream and Infrastructure Stock Performance

The company has a debt-to-equity ratio of 183.03, a quick ratio of 0.55 and a current ratio of 1.23. The business’s 50-day moving average is C$0.17 and its 200-day 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.