Enerflex (NYSE:EFXT) Shares Gap Up After Earnings Beat

Enerflex Ltd. (NYSE:EFXT)’s share price gapped up before the market opened on Thursday after the company announced better than expected quarterly earnings. The stock had previously closed at $8.13, but opened at $8.58. Enerflex shares last traded at $8.07, with a volume of 70,736 shares trading hands.

The company reported $0.12 earnings per share for the quarter, beating analysts’ consensus estimates of $0.07 by $0.05. Enerflex had a negative net margin of 3.15% and a negative return on equity of 1.25%.

Wall Street Analyst Weigh In

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

Hedge Funds Weigh In On Enerflex

Institutional investors have recently made changes to their positions in the company. TD Waterhouse Canada Inc. grew its holdings in shares of Enerflex by 8.7% during the fourth quarter. TD Waterhouse Canada Inc. now owns 17,522 shares of the company’s stock worth $173,000 after buying an additional 1,404 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Enerflex by 4.6% in the fourth quarter. Geode Capital Management LLC now owns 63,885 shares of the company’s stock valued at $642,000 after purchasing an additional 2,828 shares during the period. Bank of Nova Scotia grew its holdings in shares of Enerflex by 4.9% in the fourth quarter. Bank of Nova Scotia now owns 90,717 shares of the company’s stock valued at $903,000 after purchasing an additional 4,258 shares during the period. Barclays PLC grew its holdings in shares of Enerflex by 20.3% in the fourth quarter. Barclays PLC now owns 31,481 shares of the company’s stock valued at $314,000 after purchasing an additional 5,312 shares during the period. Finally, The Manufacturers Life Insurance Company grew its holdings in shares of Enerflex by 3.3% in the third quarter. The Manufacturers Life Insurance Company now owns 184,952 shares of the company’s stock valued at $1,103,000 after purchasing an additional 5,864 shares during the period. 46.47% of the stock is owned by hedge funds and other institutional investors.

Enerflex Price Performance

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 stock’s fifty day moving average is $9.70 and its 200-day moving average is $7.95. The stock has a market cap of $1.00 billion, a PE ratio of -12.88 and a beta of 2.02.

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.