Short Interest in Innergex Renewable Energy Inc. (OTCMKTS:INGXF) Decreases By 28.4%

Innergex Renewable Energy Inc. (OTCMKTS:INGXF) was the target of a large decline in short interest in the month of February. As of February 28th, there was short interest totalling 1,590,300 shares, a decline of 28.4% from the February 13th total of 2,222,200 shares. Currently, 0.8% of the shares of the company are sold short. Based on an average trading volume of 205,200 shares, the days-to-cover ratio is presently 7.8 days.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on INGXF shares. Raymond James cut shares of Innergex Renewable Energy from a “moderate buy” rating to a “hold” rating in a report on Tuesday, February 25th. National Bank Financial lowered shares of Innergex Renewable Energy from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, February 25th.

Innergex Renewable Energy Trading Up 0.8 %

Innergex Renewable Energy stock traded up $0.08 during mid-day trading on Monday, hitting $9.46. The company’s stock had a trading volume of 1,619 shares, compared to its average volume of 80,369. The company has a debt-to-equity ratio of 4.50, a current ratio of 0.56 and a quick ratio of 0.56. The stock has a market cap of $1.92 billion, a price-to-earnings ratio of 315.33 and a beta of 0.56. The business has a 50 day moving average price of $6.47 and a 200-day moving average price of $6.52. Innergex Renewable Energy has a 12 month low of $4.81 and a 12 month high of $9.47.

Innergex Renewable Energy (OTCMKTS:INGXF) last issued its quarterly earnings data on Thursday, February 20th. The company reported $0.21 EPS for the quarter, beating the consensus estimate of ($0.01) by $0.22. The firm had revenue of $204.46 million during the quarter, compared to the consensus estimate of $266.84 million. Innergex Renewable Energy had a net margin of 1.84% and a return on equity of 4.40%. As a group, analysts forecast that Innergex Renewable Energy will post 0.09 EPS for the current year.

Innergex Renewable Energy Cuts Dividend

The business also recently declared a dividend, which was paid on Wednesday, January 15th. Investors of record on Wednesday, January 1st were paid a $0.0649 dividend. This represents a yield of 4.6%. The ex-dividend date of this dividend was Tuesday, December 31st. Innergex Renewable Energy’s payout ratio is currently 800.00%.

Innergex Renewable Energy Company Profile

Innergex Renewable Energy Inc operates as an independent renewable power producer in Canada, the United States, France, and Chile. It acquires, owns, develops, and operates renewable power-generating and energy storage facilities primarily in hydroelectric, wind, and solar power sectors. The company operates through three segments: Hydroelectric Power Generation, Wind Power Generation, and Solar Power Generation.