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

Shares of Tidewater Midstream and Infrastructure Ltd. (TSE:TWM) traded 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. 6,932,558 shares were traded 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.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. Atb Cap Markets cut Tidewater Midstream and Infrastructure from a “strong-buy” rating to a “moderate buy” rating in a report on Friday, November 15th. Scotiabank reduced their target price on shares of Tidewater Midstream and Infrastructure from C$0.45 to C$0.30 in a research report on Friday, November 15th. Finally, CIBC raised 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 report on Thursday, January 9th. One research analyst has rated the stock with a sell rating and five have assigned a hold rating to the company’s stock. Based on data from MarketBeat.com, Tidewater Midstream and Infrastructure has a consensus rating of “Hold” and a consensus target price of C$0.66.

Tidewater Midstream and Infrastructure Stock Up 66.7 %

The stock has a market capitalization of C$86.21 million, a price-to-earnings ratio of -0.24, a P/E/G ratio of 0.64 and a beta of 1.67. The firm’s fifty day simple moving average is C$0.17 and its 200 day simple moving average is C$0.23. The company has a debt-to-equity ratio of 183.03, a quick ratio of 0.55 and a current ratio of 1.23.

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.