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

Shares of Tidewater Midstream and Infrastructure Ltd. (TSE:TWM) shot up 66.7% during mid-day trading on Saturday . The stock traded as high as C$0.21 and last traded at C$0.20. 6,932,558 shares were traded during 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 Analyst Weigh In

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

Tidewater Midstream and Infrastructure Price Performance

The company has a 50 day simple moving average of C$0.17 and a 200 day simple moving average of C$0.23. The company has a market capitalization 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 quick ratio of 0.55, a current ratio of 1.23 and a debt-to-equity ratio of 183.03.

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.