Tidewater Midstream and Infrastructure (TSE:TWM) Shares Down 2.2% – Here’s What Happened

Tidewater Midstream and Infrastructure Ltd. (TSE:TWM) shares traded down 2.2% during mid-day trading on Wednesday . The stock traded as low as C$0.22 and last traded at C$0.22. 63,419 shares changed hands during trading, a decline of 87% from the average session volume of 491,622 shares. The stock had previously closed at C$0.23.

Analyst Ratings Changes

Several equities analysts have issued reports on the stock. National Bankshares increased their price objective 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. Acumen Capital increased their target price on shares of Tidewater Midstream and Infrastructure from C$0.30 to C$0.35 in a research report on Monday, March 31st. Two analysts have rated the stock with a sell rating and two have issued a hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of C$0.40.

Tidewater Midstream and Infrastructure Trading Down 2.2%

The stock 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. The company’s 50-day moving average is C$0.20 and its 200-day moving average is C$0.21. The company has a quick ratio of 0.55, a current ratio of 1.23 and a debt-to-equity ratio of 183.03.

Insider Transactions at Tidewater Midstream and Infrastructure

In other news, insider Nauman (Nick) Toor purchased 1,300,000 shares of the stock in a transaction dated Tuesday, May 13th. The stock was acquired at an average cost of C$0.21 per share, for a total transaction of C$270,400.00. 4.44% of the stock is currently owned by 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.