Tidewater Midstream and Infrastructure (TSE:TWM) Shares Down 21.3% – Here’s What Happened

Tidewater Midstream and Infrastructure Ltd. (TSE:TWM)’s stock price was down 21.3% on Tuesday . The stock traded as low as C$0.18 and last traded at C$0.19. Approximately 469,747 shares traded hands during trading, a decline of 25% from the average daily volume of 627,488 shares. The stock had previously closed at C$0.24.

Analysts Set New Price Targets

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

Tidewater Midstream and Infrastructure Stock Performance

The company has a market cap of C$94.84 million, a PE ratio of -0.27, a P/E/G 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 200 day simple moving average is C$0.22.

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.