Enerflex (NYSE:EFXT) Shares Gap Up – Here’s What Happened

Enerflex Ltd. (NYSE:EFXT) shares gapped up prior to trading on Thursday . The stock had previously closed at $7.58, but opened at $7.92. Enerflex shares last traded at $7.48, with a volume of 33,039 shares changing hands.

Analysts Set New Price Targets

Separately, Royal Bank of Canada upped their price target on Enerflex from $8.00 to $9.00 and gave the stock an “outperform” rating in a research note on Friday, August 9th.

Enerflex Stock Performance

The company has a debt-to-equity ratio of 0.92, a current ratio of 1.27 and a quick ratio of 0.93. The company has a market capitalization of $974.95 million, a PE ratio of -9.14 and a beta of 1.89. The stock has a 50-day simple moving average of $6.33 and a 200 day simple moving average of $5.72.

Institutional Investors Weigh In On Enerflex

Institutional investors and hedge funds have recently modified their holdings of the stock. Clearbridge Investments LLC increased its holdings in shares of Enerflex by 16.3% during the second quarter. Clearbridge Investments LLC now owns 567,366 shares of the company’s stock valued at $3,064,000 after purchasing an additional 79,419 shares during the period. Marshall Wace LLP boosted its position in Enerflex by 183.4% during the 2nd quarter. Marshall Wace LLP now owns 218,505 shares of the company’s stock worth $1,180,000 after acquiring an additional 141,393 shares during the period. International Assets Investment Management LLC acquired a new position in Enerflex in the 3rd quarter valued at approximately $730,000. The Manufacturers Life Insurance Company lifted its holdings in shares of Enerflex by 4.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 179,088 shares of the company’s stock valued at $965,000 after buying an additional 7,700 shares during the last quarter. Finally, 1832 Asset Management L.P. grew its position in Enerflex by 6.2% in the first quarter. 1832 Asset Management L.P. now owns 8,901,000 shares of the company’s stock worth $51,893,000 after acquiring an additional 516,300 shares in the last quarter. Hedge funds and other institutional investors own 46.47% of the company’s stock.

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.