Short Interest in Enerflex Ltd. (NYSE:EFXT) Drops By 12.9%

Enerflex Ltd. (NYSE:EFXT) saw a large decline in short interest in November. As of November 15th, there was short interest totalling 1,210,000 shares, a decline of 12.9% from the October 31st total of 1,390,000 shares. Approximately 1.0% of the company’s shares are sold short. Based on an average trading volume of 222,700 shares, the days-to-cover ratio is presently 5.4 days.

Enerflex Stock Performance

Shares of EFXT traded up $0.06 during midday trading on Tuesday, hitting $9.20. The company had a trading volume of 260,575 shares, compared to its average volume of 198,639. Enerflex has a 1 year low of $4.01 and a 1 year high of $9.53. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.88 and a current ratio of 1.19. The company’s 50-day simple moving average is $7.22 and its 200-day simple moving average is $6.04.

Enerflex Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 16th. Shareholders of record on Tuesday, November 26th will be issued a dividend of $0.0268 per share. This represents a $0.11 annualized dividend and a yield of 1.17%. The ex-dividend date of this dividend is Tuesday, November 26th. This is a boost from Enerflex’s previous quarterly dividend of $0.02. Enerflex’s payout ratio is -17.46%.

Institutional Investors Weigh In On Enerflex

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Acadian Asset Management LLC increased its holdings in Enerflex by 17,674.4% in the second quarter. Acadian Asset Management LLC now owns 15,286 shares of the company’s stock valued at $81,000 after buying an additional 15,200 shares during the last quarter. West Tower Group LLC acquired a new position in shares of Enerflex during the 3rd quarter worth about $119,000. Fiera Capital Corp boosted its position in shares of Enerflex by 117.0% during the 2nd quarter. Fiera Capital Corp now owns 24,830 shares of the company’s stock worth $134,000 after acquiring an additional 13,390 shares in the last quarter. Net Worth Advisory Group acquired a new stake in shares of Enerflex during the 3rd quarter worth about $146,000. Finally, Barclays PLC lifted its stake in Enerflex by 2,616,800.0% during the third quarter. Barclays PLC now owns 26,169 shares of the company’s stock worth $156,000 after purchasing an additional 26,168 shares during the last quarter. 46.47% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, Royal Bank of Canada increased their target price on shares of Enerflex from $9.00 to $12.00 and gave the stock an “outperform” rating in a report on Friday, November 15th.

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.