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

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

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on TWM shares. Scotiabank lowered their price objective on shares of Tidewater Midstream and Infrastructure from C$0.45 to C$0.30 in a research note on Friday, November 15th. CIBC lifted their price target 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, Atb Cap Markets downgraded shares of Tidewater Midstream and Infrastructure from a “strong-buy” rating to a “moderate buy” rating in a report on Friday, November 15th. One analyst has rated the stock with a sell rating and five have assigned a hold rating to the stock. Based on data from MarketBeat.com, Tidewater Midstream and Infrastructure presently has an average rating of “Hold” and an average price target of C$0.66.

Tidewater Midstream and Infrastructure Price Performance

The company’s 50-day moving average is C$0.17 and its 200-day moving average is C$0.22. The company has a debt-to-equity ratio of 183.03, a current ratio of 1.23 and a quick ratio of 0.55. The firm has a market capitalization of C$94.84 million, a price-to-earnings ratio of -0.27, 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.