Enerflex Ltd. (NYSE:EFXT) Sees Large Decline in Short Interest

Enerflex Ltd. (NYSE:EFXT) saw a large decline in short interest during the month of July. As of July 15th, there was short interest totalling 1,670,000 shares, a decline of 9.7% from the June 30th total of 1,850,000 shares. Approximately 1.4% of the company’s shares are short sold. Based on an average trading volume of 143,800 shares, the short-interest ratio is currently 11.6 days.

Hedge Funds Weigh In On Enerflex

A number of hedge funds have recently modified their holdings of EFXT. Canoe Financial LP grew its position in shares of Enerflex by 105.2% during the fourth quarter. Canoe Financial LP now owns 20,393,814 shares of the company’s stock worth $95,239,000 after purchasing an additional 10,454,383 shares in the last quarter. 1832 Asset Management L.P. grew its holdings in Enerflex by 6.2% during the 1st quarter. 1832 Asset Management L.P. now owns 8,901,000 shares of the company’s stock valued at $51,893,000 after buying an additional 516,300 shares in the last quarter. NewGen Asset Management Ltd grew its holdings in Enerflex by 19.1% during the 4th quarter. NewGen Asset Management Ltd now owns 2,186,200 shares of the company’s stock valued at $10,210,000 after buying an additional 350,000 shares in the last quarter. Clearbridge Investments LLC bought a new stake in shares of Enerflex during the fourth quarter valued at approximately $2,279,000. Finally, TD Asset Management Inc boosted its position in shares of Enerflex by 1.5% during the fourth quarter. TD Asset Management Inc now owns 471,869 shares of the company’s stock worth $2,194,000 after acquiring an additional 6,862 shares during the last quarter. 46.47% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. Acumen Capital upgraded shares of Enerflex to a “strong-buy” rating in a report on Saturday, June 1st. National Bank Financial downgraded shares of Enerflex from a “strong-buy” rating to a “hold” rating in a research note on Sunday, June 2nd.

Enerflex Stock Down 0.4 %

Shares of EFXT traded down $0.02 on Thursday, reaching $5.57. The stock had a trading volume of 321,870 shares, compared to its average volume of 188,409. The firm has a market capitalization of $690.90 million, a price-to-earnings ratio of -6.16 and a beta of 2.01. The company has a 50-day simple moving average of $5.23 and a 200-day simple moving average of $5.45. Enerflex has a 12-month low of $3.94 and a 12-month high of $8.19. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.85 and a current ratio of 1.16.

Enerflex (NYSE:EFXT) last issued its quarterly earnings data on Tuesday, May 7th. The company reported ($0.15) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.25). Enerflex had a negative net margin of 4.61% and a negative return on equity of 2.47%. The business had revenue of $638.00 million for the quarter, compared to the consensus estimate of $574.35 million. Sell-side analysts predict that Enerflex will post 0.28 EPS for the current year.

Enerflex Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, July 11th. Shareholders of record on Thursday, May 23rd were paid a dividend of $0.018 per share. This represents a $0.07 dividend on an annualized basis and a yield of 1.29%. The ex-dividend date was Wednesday, May 22nd. Enerflex’s payout ratio is -7.87%.

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.