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

Enerflex Ltd. (NYSE:EFXT - Get Free Report) was the recipient of a significant increase in short interest during the month of April. As of April 15th, there was short interest totalling 1,510,000 shares, an increase of 34.8% from the March 31st total of 1,120,000 shares. Based on an average daily trading volume, of 406,500 shares, the days-to-cover ratio is presently 3.7 days. Approximately 1.2% of the shares of the company are sold short.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of EFXT. Barclays PLC raised its position in Enerflex by 2,616,800.0% in the third quarter. Barclays PLC now owns 26,169 shares of the company's stock valued at $156,000 after purchasing an additional 26,168 shares during the last quarter. Geode Capital Management LLC raised its holdings in Enerflex by 11.2% in the 3rd quarter. Geode Capital Management LLC now owns 61,057 shares of the company's stock valued at $364,000 after buying an additional 6,158 shares during the last quarter. B. Riley Wealth Advisors Inc. bought a new stake in Enerflex during the 3rd quarter worth approximately $65,000. JPMorgan Chase & Co. increased its position in Enerflex by 55.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 77,749 shares of the company's stock valued at $463,000 after acquiring an additional 27,878 shares during the period. Finally, Canoe Financial LP raised its stake in shares of Enerflex by 10.2% during the fourth quarter. Canoe Financial LP now owns 8,276,972 shares of the company's stock valued at $82,342,000 after acquiring an additional 768,210 shares during the last quarter. 46.47% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, Royal Bank of Canada decreased their target price on Enerflex from $14.00 to $12.00 and set an "outperform" rating on the stock in a research report on Thursday, April 17th.

Enerflex Price Performance

Shares of NYSE EFXT traded down $0.01 during trading hours on Thursday, hitting $6.80. 234,787 shares of the stock were exchanged, compared to its average volume of 282,264. The company's fifty day simple moving average is $7.06 and its two-hundred day simple moving average is $8.33. The company has a market cap of $843.72 million, a PE ratio of -10.79 and a beta of 2.02. Enerflex has a 1-year low of $4.60 and a 1-year high of $10.61. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.88 and a current ratio of 1.19.

Enerflex Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 24th. Investors of record on Monday, March 10th were given a dividend of $0.026 per share. This represents a $0.10 dividend on an annualized basis and a yield of 1.53%. The ex-dividend date of this dividend was Monday, March 10th. Enerflex's dividend payout ratio is 40.00%.

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.