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

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

Wall Street Analyst Weigh In

INGXF has been the topic of a number of recent analyst reports. National Bank Financial lowered shares of Innergex Renewable Energy from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, February 25th. Raymond James cut shares of Innergex Renewable Energy from a “moderate buy” rating to a “hold” rating in a report on Tuesday, February 25th.

Innergex Renewable Energy Stock Performance

OTCMKTS INGXF traded up $0.08 during mid-day trading on Tuesday, reaching $9.46. 1,619 shares of the stock were exchanged, compared to its average volume of 80,369. Innergex Renewable Energy has a 1 year low of $4.81 and a 1 year high of $9.47. The company has a debt-to-equity ratio of 4.50, a quick ratio of 0.56 and a current ratio of 0.56. The business’s 50 day moving average is $6.54 and its 200-day moving average is $6.54. The company has a market capitalization of $1.92 billion, a P/E ratio of 315.33 and a beta of 0.56.

Innergex Renewable Energy (OTCMKTS:INGXF) last posted its earnings results on Thursday, February 20th. The company reported $0.21 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.01) by $0.22. Innergex Renewable Energy had a net margin of 1.84% and a return on equity of 4.40%. The business had revenue of $204.46 million for the quarter, compared to analyst estimates of $266.84 million. On average, equities research analysts forecast that Innergex Renewable Energy will post 0.09 EPS for the current fiscal year.

Innergex Renewable Energy Cuts Dividend

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