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

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

Hedge Funds Weigh In On Enerflex

A number of institutional investors have recently modified their holdings of the business. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Enerflex by 24.3% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 32,303 shares of the company’s stock worth $174,000 after purchasing an additional 6,325 shares in the last quarter. 1832 Asset Management L.P. lifted its stake in shares of Enerflex by 6.2% in 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 acquiring an additional 516,300 shares during the last quarter. Avidian Wealth Solutions LLC bought a new stake in Enerflex during the 1st quarter worth $90,000. Hartree Partners LP acquired a new position in Enerflex in the 1st quarter worth about $1,458,000. Finally, K.J. Harrison & Partners Inc raised its position in Enerflex by 38.5% in the first quarter. K.J. Harrison & Partners Inc now owns 287,700 shares of the company’s stock valued at $1,673,000 after purchasing an additional 80,000 shares during the last quarter. Institutional investors and hedge funds own 46.47% of the company’s stock.

Enerflex Price Performance

EFXT traded down $0.02 on Thursday, hitting $5.57. 321,870 shares of the stock were exchanged, 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 debt-to-equity ratio of 0.85, a current ratio of 1.16 and a quick ratio of 0.85. Enerflex has a 12 month low of $3.94 and a 12 month high of $8.19. The business has a 50-day moving average of $5.23 and a two-hundred day moving average of $5.45.

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

Enerflex Cuts Dividend

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

Wall Street Analyst Weigh In

A number of research firms recently commented on EFXT. National Bank Financial lowered shares of Enerflex from a “strong-buy” rating to a “hold” rating in a research report on Sunday, June 2nd. Acumen Capital raised shares of Enerflex to a “strong-buy” rating in a report on Saturday, June 1st.

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.