Tidewater Midstream and Infrastructure (TSE:TWM) Stock Price Down 26.3% – Here’s What Happened

Shares of Tidewater Midstream and Infrastructure Ltd. (TSE:TWM) dropped 26.3% on Friday . The company traded as low as C$0.17 and last traded at C$0.21. Approximately 4,274,284 shares traded hands during mid-day trading, an increase of 638% from the average daily volume of 579,022 shares. The stock had previously closed at C$0.29.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on TWM shares. Acumen Capital lifted their price objective on Tidewater Midstream and Infrastructure from C$0.30 to C$0.35 in a research report on Monday, March 31st. National Bankshares boosted their target price on shares of Tidewater Midstream and Infrastructure from C$0.10 to C$0.15 and gave the company an “underperform” rating in a report on Monday, March 31st. Two research analysts have rated the stock with a sell rating and two have given a hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of C$0.40.

Tidewater Midstream and Infrastructure Trading Up 2.4 %

The firm has a market cap of C$92.68 million, a P/E ratio of -0.26, 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 firm has a fifty day moving average of C$0.25 and a 200-day moving average of C$0.20.

Insider Buying and Selling at Tidewater Midstream and Infrastructure

In related news, insider Nauman (Nick) Toor purchased 151,500 shares of the firm’s stock in a transaction that occurred on Tuesday, April 29th. The stock was acquired at an average price of C$0.28 per share, for a total transaction of C$41,920.05. 4.44% of the stock is owned by corporate insiders.

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.