Enerflex Ltd. (NYSE:EFXT) Sees Significant Decrease in Short Interest

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

Enerflex Stock Down 5.1 %

Enerflex stock traded down $0.39 during mid-day trading on Tuesday, hitting $7.17. 334,909 shares of the company’s stock were exchanged, compared to its average volume of 407,312. Enerflex has a 1-year low of $4.59 and a 1-year high of $10.61. The stock has a 50 day moving average of $9.60 and a two-hundred day moving average of $8.00. The company has a current ratio of 1.19, a quick ratio of 0.88 and a debt-to-equity ratio of 0.79. The stock has a market cap of $890.23 million, a P/E ratio of -11.37 and a beta of 2.01.

Enerflex Cuts Dividend

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

Hedge Funds Weigh In On Enerflex

Several large investors have recently made changes to their positions in the business. B. Riley Wealth Advisors Inc. bought a new position in Enerflex in the 3rd quarter worth approximately $65,000. Lazard Asset Management LLC bought a new position in Enerflex during the fourth quarter worth $82,000. West Tower Group LLC bought a new position in Enerflex during the third quarter worth $119,000. Quantbot Technologies LP acquired a new position in Enerflex during the 4th quarter valued at $127,000. Finally, Barclays PLC boosted its holdings in Enerflex by 2,616,800.0% in 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 Analyst Weigh In

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

About Enerflex

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.