Enerflex (NYSE:EFXT) Shares Gap Up - Time to Buy?

Enerflex Ltd. (NYSE:EFXT - Get Free Report) shares gapped up before the market opened on Thursday . The stock had previously closed at $7.58, but opened at $7.92. Enerflex shares last traded at $7.48, with a volume of 33,039 shares changing hands.

Wall Street Analyst Weigh In

Separately, Royal Bank of Canada raised their target price on Enerflex from $8.00 to $9.00 and gave the stock an "outperform" rating in a research note on Friday, August 9th.

Enerflex Stock Performance

The company has a debt-to-equity ratio of 0.92, a current ratio of 1.27 and a quick ratio of 0.93. The company has a market capitalization of $996.04 million, a price-to-earnings ratio of -9.67 and a beta of 1.89. The firm has a fifty day simple moving average of $6.38 and a 200 day simple moving average of $5.74.

Hedge Funds Weigh In On Enerflex

Institutional investors and hedge funds have recently bought and sold shares of the business. Mackenzie Financial Corp grew its holdings in shares of Enerflex by 57.9% during the 2nd quarter. Mackenzie Financial Corp now owns 4,380,143 shares of the company's stock worth $23,631,000 after purchasing an additional 1,606,236 shares during the period. 1832 Asset Management L.P. increased its position in shares of Enerflex by 16.1% during the second quarter. 1832 Asset Management L.P. now owns 10,336,900 shares of the company's stock valued at $55,819,000 after acquiring an additional 1,435,900 shares during the last quarter. Taconic Capital Advisors LP raised its stake in shares of Enerflex by 35.6% in the 3rd quarter. Taconic Capital Advisors LP now owns 1,771,800 shares of the company's stock valued at $10,559,000 after acquiring an additional 465,000 shares during the period. PCJ Investment Counsel Ltd. lifted its holdings in shares of Enerflex by 14.1% in the 3rd quarter. PCJ Investment Counsel Ltd. now owns 1,237,750 shares of the company's stock worth $7,376,000 after acquiring an additional 152,990 shares during the last quarter. Finally, Marshall Wace LLP increased its holdings in Enerflex by 183.4% in the 2nd quarter. Marshall Wace LLP now owns 218,505 shares of the company's stock valued at $1,180,000 after purchasing an additional 141,393 shares during the last quarter. 46.47% of the stock is currently owned by institutional investors and hedge funds.

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.