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

Key Points

• Enerflex’s short interest jumped 68.1% to 2.54 million shares as of October 15, representing 2.1% of shares outstanding and a days-to-cover ratio of 3.2.
• The company beat quarterly EPS estimates, reporting $0.45 versus the $0.33 consensus, though revenue of $623 million fell slightly short of expectations.
• Enerflex reduced its quarterly dividend to C$0.04, while analysts maintained an overall “Moderate Buy” consensus with an average price target of $38, well above the reported $23.64 share price.

Enerflex Ltd. (NYSE:EFXT - Get Free Report) was the target of a significant growth in short interest in the month of October. As of October 15th, there was short interest totaling 2,540,043 shares, a growth of 68.1% from the September 30th total of 1,511,119 shares. Based on an average trading volume of 800,275 shares, the days-to-cover ratio is currently 3.2 days. Approximately 2.1% of the shares of the stock are short sold.

Institutional Investors Weigh In On Enerflex

Large investors have recently bought and sold shares of the business. Baron Wealth Management LLC boosted its stake in shares of Enerflex by 2.5% during the 2nd quarter. Baron Wealth Management LLC now owns 30,530 shares of the company's stock worth $748,000 after acquiring an additional 751 shares in the last quarter. Pictet Asset Management Holding SA raised its stake in shares of Enerflex by 4.4% in the 1st quarter. Pictet Asset Management Holding SA now owns 24,089 shares of the company's stock valued at $502,000 after acquiring an additional 1,017 shares in the last quarter. Financial Management Professionals Inc. bought a new position in shares of Enerflex in the 2nd quarter valued at approximately $30,000. Kathmere Capital Management LLC lifted its holdings in Enerflex by 12.0% in the 1st quarter. Kathmere Capital Management LLC now owns 22,587 shares of the company's stock worth $473,000 after purchasing an additional 2,422 shares during the last quarter. Finally, Integrated Wealth Concepts LLC acquired a new stake in Enerflex in the 2nd quarter worth approximately $79,000. 46.47% of the stock is currently owned by institutional investors.

Enerflex Stock Up 0.0%

EFXT opened at $23.64 on Monday. Enerflex has a fifty-two week low of $12.46 and a fifty-two week high of $29.15. The business has a 50-day moving average of $23.02 and a 200-day moving average of $22.55. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.23 and a quick ratio of 0.89. The company has a market capitalization of $2.89 billion, a PE ratio of 40.76 and a beta of 1.79.

Enerflex (NYSE:EFXT - Get Free Report) last posted its earnings results on Thursday, October 29th. The company reported $0.45 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.33 by $0.12. The firm had revenue of $623.00 million during the quarter, compared to analysts' expectations of $632.70 million. Enerflex had a net margin of 2.94% and a return on equity of 13.15%. Equities research analysts forecast that Enerflex will post 1.42 EPS for the current fiscal year.

Enerflex Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 25th. Investors of record on Thursday, November 12th will be paid a C$0.04 dividend. This represents a $0.14 annualized dividend and a dividend yield of 0.6%. The ex-dividend date of this dividend is Thursday, November 12th. This is a drop from Enerflex's previous quarterly dividend of C$0.04. Enerflex's dividend payout ratio (DPR) is presently 20.69%.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on EFXT shares. Weiss Ratings raised shares of Enerflex from a "hold (c-)" rating to a "hold (c)" rating in a research report on Thursday, October 8th. Zacks Research downgraded shares of Enerflex from a "hold" rating to a "strong sell" rating in a research report on Monday, August 10th. Acumen Capital raised shares of Enerflex to a "strong-buy" rating in a research note on Friday, October 2nd. Royal Bank Of Canada lowered their price objective on shares of Enerflex from $35.00 to $33.00 and set an "outperform" rating on the stock in a research report on Friday. Finally, Canadian Imperial Bank of Commerce set a $35.00 target price on shares of Enerflex and gave the company an "outperform" rating in a research note on Tuesday, October 13th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $38.00.

About Enerflex

Enerflex Ltd. NYSE: EFXT is a Calgary-based energy infrastructure company that provides equipment, services and solutions for the processing, compression and transportation of natural gas. Its offerings support energy producers, midstream operators and industrial customers across the natural gas value chain.

The company designs, engineers, manufactures, commissions and services natural gas compression systems, gas processing and treating facilities, refrigeration and cryogenic systems, and electric power generation equipment.

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