Enerflex (NYSE:EFXT) Shares Up 4.7% - Here's Why

Enerflex Ltd. (NYSE:EFXT - Get Free Report)'s share price rose 4.7% on Tuesday . The stock traded as high as $6.86 and last traded at $6.85. Approximately 74,999 shares were traded during trading, a decline of 72% from the average daily volume of 268,453 shares. The stock had previously closed at $6.54.

Wall Street Analysts Forecast Growth

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

Enerflex Trading Up 0.2 %

The company has a market cap of $834.91 million, a PE ratio of -10.67 and a beta of 1.95. The business has a 50 day simple moving average of $7.63 and a two-hundred day simple moving average of $8.34. The company has a current ratio of 1.19, a quick ratio of 0.88 and a debt-to-equity ratio of 0.79.

Enerflex Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 24th. Stockholders of record on Monday, March 10th were paid a dividend of $0.026 per share. This represents a $0.10 dividend on an annualized basis and a dividend yield of 1.55%. The ex-dividend date of this dividend was Monday, March 10th. Enerflex's dividend payout ratio is currently 40.00%.

Hedge Funds Weigh In On Enerflex

Several institutional investors and hedge funds have recently bought and sold shares of EFXT. Public Employees Retirement System of Ohio purchased a new position in shares of Enerflex in the 3rd quarter worth $344,000. Barclays PLC lifted its stake in shares of Enerflex by 2,616,800.0% in the 3rd quarter. Barclays PLC now owns 26,169 shares of the company's stock valued at $156,000 after purchasing an additional 26,168 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Enerflex by 11.2% during the 3rd quarter. Geode Capital Management LLC now owns 61,057 shares of the company's stock worth $364,000 after purchasing an additional 6,158 shares during the period. B. Riley Wealth Advisors Inc. purchased a new position in Enerflex in the third quarter valued at approximately $65,000. Finally, JPMorgan Chase & Co. lifted its position in Enerflex by 55.9% during the third quarter. JPMorgan Chase & Co. now owns 77,749 shares of the company's stock valued at $463,000 after buying an additional 27,878 shares in the last quarter. Institutional investors and hedge funds own 46.47% of the company's stock.

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.