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

Enerflex Ltd. (NYSE:EFXT)’s share price gapped up before the market opened 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.

Analyst Ratings Changes

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

Enerflex Stock Up 3.7 %

The company’s 50 day moving average price is $6.33 and its two-hundred day moving average price is $5.72. The company has a quick ratio of 0.93, a current ratio of 1.27 and a debt-to-equity ratio of 0.92. The stock has a market cap of $974.95 million, a P/E ratio of -9.14 and a beta of 1.89.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in EFXT. 1832 Asset Management L.P. lifted its position in Enerflex by 16.1% during the 2nd quarter. 1832 Asset Management L.P. now owns 10,336,900 shares of the company’s stock worth $55,819,000 after acquiring an additional 1,435,900 shares during the period. Mackenzie Financial Corp lifted its holdings in shares of Enerflex by 57.9% in 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 during the period. Taconic Capital Advisors LP lifted its holdings in shares of Enerflex by 35.6% in the 3rd quarter. Taconic Capital Advisors LP now owns 1,771,800 shares of the company’s stock valued at $10,559,000 after buying an additional 465,000 shares during the period. PCJ Investment Counsel Ltd. increased its stake in Enerflex by 14.1% during the 3rd quarter. PCJ Investment Counsel Ltd. now owns 1,237,750 shares of the company’s stock worth $7,376,000 after buying an additional 152,990 shares in the last quarter. Finally, Scheer Rowlett & Associates Investment Management Ltd. boosted its holdings in shares of Enerflex by 3.0% during the 3rd quarter. Scheer Rowlett & Associates Investment Management Ltd. now owns 1,036,274 shares of the company’s stock worth $6,175,000 after purchasing an additional 29,830 shares during the last quarter. 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.