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

Enerflex Ltd. (NYSE:EFXT - Get Free Report) was the target of a large decrease in short interest in February. As of February 15th, there was short interest totalling 1,080,000 shares, a decrease of 18.8% from the January 31st total of 1,330,000 shares. Based on an average daily trading volume, of 408,400 shares, the short-interest ratio is presently 2.6 days. Approximately 0.9% of the shares of the stock are sold short.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in EFXT. Hillsdale Investment Management Inc. grew its position in shares of Enerflex by 3,307.0% during the fourth quarter. Hillsdale Investment Management Inc. now owns 4,895,901 shares of the company's stock valued at $48,685,000 after purchasing an additional 4,752,201 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of Enerflex during the fourth quarter valued at about $43,935,000. Canoe Financial LP grew its position 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 purchasing an additional 768,210 shares in the last quarter. Arrowstreet Capital Limited Partnership purchased a new position in shares of Enerflex during the fourth quarter valued at about $5,871,000. Finally, Two Sigma Investments LP grew its position in shares of Enerflex by 263.9% during the fourth quarter. Two Sigma Investments LP now owns 659,690 shares of the company's stock valued at $6,564,000 after purchasing an additional 478,407 shares in the last quarter. Hedge funds and other institutional investors own 46.47% of the company's stock.

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Enerflex Price Performance

EFXT stock traded up $0.05 during trading on Friday, reaching $7.22. The company's stock had a trading volume of 533,130 shares, compared to its average volume of 450,712. Enerflex has a 1 year low of $4.59 and a 1 year high of $10.61. The company has a quick ratio of 0.88, a current ratio of 1.19 and a debt-to-equity ratio of 0.79. The company has a market capitalization of $895.69 million, a P/E ratio of -11.45 and a beta of 2.12. The company's fifty day moving average is $9.40 and its 200-day moving average is $8.01.

Enerflex Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 24th. Stockholders of record on Monday, March 10th will be given a dividend of $0.026 per share. The ex-dividend date is Monday, March 10th. This represents a $0.10 dividend on an annualized basis and a dividend yield of 1.44%. Enerflex's payout ratio is 40.00%.

Analyst Upgrades and Downgrades

Separately, Royal Bank of Canada increased their price target on Enerflex from $9.00 to $12.00 and gave the stock an "outperform" rating in a research note 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.