Enerflex (NYSE:EFXT) Trading Down 1.8% – Here’s Why

Enerflex Ltd. (NYSE:EFXT)’s stock price traded down 1.8% on Wednesday . The company traded as low as $9.06 and last traded at $9.09. 247,569 shares changed hands during mid-day trading, a decline of 40% from the average session volume of 414,246 shares. The stock had previously closed at $9.25.

Wall Street Analyst Weigh In

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

Enerflex Stock Down 1.8 %

The company has a market cap of $1.13 billion, a P/E ratio of -14.42 and a beta of 2.01. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.19 and a quick ratio of 0.88. The business’s 50 day moving average price is $9.79 and its 200-day moving average price is $7.83.

Hedge Funds Weigh In On Enerflex

Several institutional investors have recently bought and sold shares of EFXT. International Assets Investment Management LLC acquired a new stake in shares of Enerflex in the third quarter valued at $730,000. Avidian Wealth Enterprises LLC raised its stake in shares of Enerflex by 15.0% in the third quarter. Avidian Wealth Enterprises LLC now owns 76,413 shares of the company’s stock worth $455,000 after acquiring an additional 9,975 shares during the last quarter. PCJ Investment Counsel Ltd. raised its stake in shares of Enerflex by 14.1% in the third quarter. PCJ Investment Counsel Ltd. now owns 1,237,750 shares of the company’s stock worth $7,376,000 after acquiring an additional 152,990 shares during the last quarter. Scheer Rowlett & Associates Investment Management Ltd. lifted its position in shares of Enerflex by 3.0% during the third quarter. Scheer Rowlett & Associates Investment Management Ltd. now owns 1,036,274 shares of the company’s stock worth $6,175,000 after purchasing an additional 29,830 shares in the last quarter. Finally, Bank of Montreal Can grew its stake in shares of Enerflex by 5.0% during the third quarter. Bank of Montreal Can now owns 488,275 shares of the company’s stock valued at $2,895,000 after purchasing an additional 23,362 shares during the last quarter. Institutional investors own 46.47% of the company’s stock.

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.