Tidewater Midstream and Infrastructure (TSE:TWM) Sets New 1-Year Low After Insider Selling

Shares of Tidewater Midstream and Infrastructure Ltd. (TSE:TWMGet Free Report) reached a new 52-week low on Tuesday after an insider sold shares in the company. The stock traded as low as C$0.60 and last traded at C$0.61, with a volume of 234250 shares. The stock had previously closed at C$0.64.

Specifically, Senior Officer Jared Ian Arling Strom Gurevitch sold 54,500 shares of the company’s stock in a transaction on Friday, May 10th. The shares were sold at an average price of C$0.63, for a total value of C$34,335.00. Insiders sold 127,500 shares of company stock valued at $89,395 in the last quarter. 6.42% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

TWM has been the topic of a number of research reports. CIBC decreased their price target on shares of Tidewater Midstream and Infrastructure from C$1.10 to C$0.95 in a research note on Friday, May 10th. National Bankshares decreased their target price on Tidewater Midstream and Infrastructure from C$1.10 to C$1.00 in a research report on Friday, March 15th. Stifel Nicolaus dropped their price target on Tidewater Midstream and Infrastructure from C$1.25 to C$0.90 and set a “hold” rating for the company in a report on Thursday, April 25th. Scotiabank reduced their price target on Tidewater Midstream and Infrastructure from C$1.50 to C$1.10 in a research note on Friday, March 15th. Finally, Royal Bank of Canada downgraded Tidewater Midstream and Infrastructure from an “outperform” rating to a “sector perform” rating and reduced their price target for the company from C$1.00 to C$0.80 in a research note on Friday, May 10th. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of C$0.99.

Read Our Latest Stock Report on Tidewater Midstream and Infrastructure

Tidewater Midstream and Infrastructure Price Performance

The company has a 50 day moving average of C$0.76 and a 200-day moving average of C$0.89. The firm has a market capitalization of C$265.71 million, a P/E ratio of -0.68, a P/E/G ratio of 0.64 and a beta of 1.79. The company has a current ratio of 0.65, a quick ratio of 0.55 and a debt-to-equity ratio of 233.13.

Tidewater Midstream and Infrastructure (TSE:TWMGet Free Report) last released its quarterly earnings results on Thursday, March 14th. The company reported C($0.04) earnings per share (EPS) for the quarter, missing the consensus estimate of C($0.01) by C($0.03). The firm had revenue of C$503.00 million during the quarter. Tidewater Midstream and Infrastructure had a negative net margin of 17.48% and a negative return on equity of 73.46%. On average, sell-side analysts predict that Tidewater Midstream and Infrastructure Ltd. will post 0.0542169 EPS for the current year.

Tidewater Midstream and Infrastructure Company Profile

(Get Free Report)

Tidewater Midstream and Infrastructure Ltd. operates as a diversified midstream and infrastructure company in the United States. The company primarily focuses on natural gas, natural gas liquids (NGLs), crude oil, refined products, and renewable products and services. It also engages in the sale of refined petroleum products, including gasoline, low sulphur diesel, and ancillary products, as well as renewable fuels and natural gas; and gathering, processing, transporting, extraction, and marketing of crude oil, natural gas, and NGLs.

Further Reading

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