Tidewater Midstream and Infrastructure (TSE:TWM) Shares Up 66.7% – Here’s What Happened

Tidewater Midstream and Infrastructure Ltd. (TSE:TWM)’s stock price traded up 66.7% during mid-day trading on Friday . The company traded as high as C$0.21 and last traded at C$0.20. 6,932,558 shares changed 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.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the stock. Scotiabank decreased their price objective on shares of Tidewater Midstream and Infrastructure from C$0.45 to C$0.30 in a report on Friday, November 15th. Atb Cap Markets cut shares of Tidewater Midstream and Infrastructure from a “strong-buy” rating to a “moderate buy” rating in a report on Friday, November 15th. Finally, CIBC upped 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. One equities research analyst has rated the stock with a sell rating and five have given a hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of C$0.66.

Tidewater Midstream and Infrastructure Stock Performance

The stock has a market cap of C$86.21 million, a price-to-earnings ratio of -0.24, a price-to-earnings-growth ratio of 0.64 and a beta of 1.67. 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 stock’s 50-day simple moving average is C$0.17 and its two-hundred day simple moving average is C$0.23.

Tidewater Midstream and Infrastructure Company Profile

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.