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

Enerflex Ltd. (NYSE:EFXT) saw a large decline in short interest during the month of October. As of October 31st, there was short interest totalling 1,390,000 shares, a decline of 10.3% from the October 15th total of 1,550,000 shares. Currently, 1.1% of the shares of the stock are sold short. Based on an average daily volume of 156,500 shares, the days-to-cover ratio is currently 8.9 days.

Analyst Ratings Changes

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

Enerflex Price Performance

Shares of EFXT stock traded down $0.05 during trading hours on Tuesday, reaching $8.79. The company had a trading volume of 459,874 shares, compared to its average volume of 184,763. Enerflex has a 12-month low of $4.01 and a 12-month high of $8.96. The company has a market capitalization of $1.09 billion, a price-to-earnings ratio of -14.03 and a beta of 1.89. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.88 and a current ratio of 1.19. The stock has a fifty day moving average of $6.43 and a 200-day moving average of $5.75.

Enerflex Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 16th. Shareholders of record on Tuesday, November 26th will be paid a $0.0268 dividend. The ex-dividend date is Tuesday, November 26th. This is an increase from Enerflex’s previous quarterly dividend of $0.02. This represents a $0.11 dividend on an annualized basis and a dividend yield of 1.22%. Enerflex’s dividend payout ratio (DPR) is -11.11%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of EFXT. Acadian Asset Management LLC increased its position in Enerflex by 17,674.4% during the second quarter. Acadian Asset Management LLC now owns 15,286 shares of the company’s stock worth $81,000 after purchasing an additional 15,200 shares during the last quarter. West Tower Group LLC acquired a new stake in shares of Enerflex during the third quarter valued at about $119,000. Net Worth Advisory Group purchased a new stake in Enerflex in the third quarter valued at approximately $146,000. Fiera Capital Corp lifted its stake in Enerflex by 117.0% during the second quarter. Fiera Capital Corp now owns 24,830 shares of the company’s stock worth $134,000 after purchasing an additional 13,390 shares in the last quarter. Finally, Barclays PLC boosted its position in shares of Enerflex by 2,616,800.0% during the third quarter. Barclays PLC now owns 26,169 shares of the company’s stock worth $156,000 after buying an additional 26,168 shares during the period. Hedge funds and other 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.