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

Enerflex Ltd. (NYSE:EFXT) was the target of a large growth in short interest in September. As of September 15th, there was short interest totalling 1,620,000 shares, a growth of 11.7% from the August 31st total of 1,450,000 shares. Based on an average daily volume of 143,900 shares, the days-to-cover ratio is currently 11.3 days. Approximately 1.3% of the company’s stock are short sold.

Enerflex Price Performance

NYSE EFXT traded up $0.08 on Tuesday, reaching $6.05. 193,429 shares of the company’s stock traded hands, compared to its average volume of 184,341. 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 stock has a market cap of $749.85 million, a PE ratio of -6.78 and a beta of 2.01. The stock has a 50-day simple moving average of $5.66 and a 200 day simple moving average of $5.54. Enerflex has a 12 month low of $3.94 and a 12 month high of $6.39.

Enerflex (NYSE:EFXT) last released its quarterly earnings results on Wednesday, August 7th. The company reported $0.04 EPS for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.02). The business had revenue of $614.00 million for the quarter, compared to the consensus estimate of $554.20 million. Enerflex had a negative net margin of 4.25% and a negative return on equity of 1.86%. As a group, research analysts predict that Enerflex will post 0.18 earnings per share for the current year.

Enerflex Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 2nd. Stockholders of record on Thursday, August 22nd will be issued a dividend of $0.018 per share. The ex-dividend date of this dividend is Thursday, August 22nd. This represents a $0.07 annualized dividend and a dividend yield of 1.19%. Enerflex’s payout ratio is -7.87%.

Analyst Upgrades and Downgrades

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

Hedge Funds Weigh In On Enerflex

A number of hedge funds have recently added to or reduced their stakes in EFXT. Mackenzie Financial Corp lifted its stake in shares of Enerflex by 57.9% during the 2nd quarter. Mackenzie Financial Corp now owns 4,380,143 shares of the company’s stock valued at $23,631,000 after buying an additional 1,606,236 shares in the last quarter. 1832 Asset Management L.P. lifted its stake in shares of Enerflex by 21.2% during the 4th quarter. 1832 Asset Management L.P. now owns 8,384,700 shares of the company’s stock worth $39,157,000 after acquiring an additional 1,464,300 shares during the last quarter. Hartree Partners LP purchased a new position in Enerflex in the 1st quarter worth about $1,458,000. Marshall Wace LLP raised its stake in shares of Enerflex by 183.4% during the second quarter. Marshall Wace LLP now owns 218,505 shares of the company’s stock valued at $1,180,000 after acquiring an additional 141,393 shares in the last quarter. Finally, Dimensional Fund Advisors LP bought a new position in shares of Enerflex during the 2nd quarter worth $609,000. 46.47% of the stock is currently owned by hedge funds and other institutional investors.

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.