Enerflex Ltd. (NYSE:EFXT) Sees Large Drop in Short Interest

Enerflex Ltd. (NYSE:EFXT) was the recipient of a significant decline in short interest in February. As of February 15th, there was short interest totalling 1,080,000 shares, a decline of 18.8% from the January 31st total of 1,330,000 shares. Approximately 0.9% of the shares of the stock are short sold. Based on an average trading volume of 408,400 shares, the days-to-cover ratio is presently 2.6 days.

Hedge Funds Weigh In On Enerflex

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. B. Riley Wealth Advisors Inc. purchased a new stake in Enerflex during the third quarter valued at about $65,000. Lazard Asset Management LLC acquired a new stake in shares of Enerflex during the fourth quarter valued at approximately $82,000. West Tower Group LLC purchased a new stake in shares of Enerflex in the 3rd quarter valued at approximately $119,000. Quantbot Technologies LP purchased a new position in Enerflex during the 4th quarter worth approximately $127,000. Finally, Barclays PLC raised its stake in Enerflex by 2,616,800.0% during the 3rd quarter. Barclays PLC now owns 26,169 shares of the company’s stock valued at $156,000 after purchasing an additional 26,168 shares during the period. Institutional investors and hedge funds own 46.47% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Royal Bank of Canada raised their price objective on shares of Enerflex from $9.00 to $12.00 and gave the company an “outperform” rating in a research report on Friday, November 15th.

Enerflex Price Performance

Shares of NYSE EFXT traded down $0.39 during trading on Tuesday, hitting $7.17. The company had a trading volume of 334,909 shares, compared to its average volume of 407,312. Enerflex has a 52 week low of $4.59 and a 52 week high of $10.61. The business’s 50-day moving average is $9.60 and its 200 day moving average is $8.00. The company has a market cap of $890.23 million, a P/E ratio of -11.37 and a beta of 2.01. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.88 and a current ratio of 1.19.

Enerflex Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 24th. Stockholders of record on Monday, March 10th will be issued a dividend of $0.026 per share. This represents a $0.10 annualized dividend and a dividend yield of 1.45%. The ex-dividend date of this dividend is Monday, March 10th. Enerflex’s dividend payout ratio is 40.00%.

Enerflex Company Profile

Enerflex Ltd. offers energy infrastructure and energy transition solutions to natural gas markets in North America, Latin America, and the Eastern Hemisphere. The company provides natural gas compression infrastructure, processing, and treated water infrastructure under contract to oil and natural gas customers; power generation rental solutions; custom and standard compression packages for reciprocating and screw compressor applications; re-engineering, re-configuration, and re-packaging of compressors for various field applications; integrated turnkey power generation, gas compression, processing facilities, natural gas compression, processing, and electric power solutions; after-market mechanical services and parts distribution, as well as maintenance solutions to the oil and natural gas industry, operations, and overhaul services; and equipment supply, parts supply, and general asset management.