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

Enerflex Ltd. (NYSE:EFXT) was the target of a significant increase in short interest in January. As of January 31st, there was short interest totalling 1,330,000 shares, an increase of 31.7% from the January 15th total of 1,010,000 shares. Based on an average trading volume of 420,900 shares, the days-to-cover ratio is presently 3.2 days. Currently, 1.1% of the company’s stock are sold short.

Wall Street Analyst Weigh In

Separately, Royal Bank of Canada upped their price objective on Enerflex from $9.00 to $12.00 and gave the company an “outperform” rating in a research note on Friday, November 15th.

Enerflex Trading Up 0.4 %

Shares of NYSE:EFXT traded up $0.04 on Friday, reaching $9.17. 327,479 shares of the company traded hands, compared to its average volume of 368,434. The company’s 50 day moving average is $9.81 and its 200-day moving average is $7.75. Enerflex has a fifty-two week low of $4.59 and a fifty-two week high of $10.61. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.19 and a quick ratio of 0.88.

Institutional Trading of Enerflex

Hedge funds have recently modified their holdings of the business. Canoe Financial LP raised its holdings 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 worth $82,342,000 after acquiring an additional 768,210 shares in the last quarter. Hillsdale Investment Management Inc. grew its position in shares of Enerflex by 3,307.0% in 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 during the last quarter. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of Enerflex in the fourth quarter valued at about $43,935,000. Taconic Capital Advisors LP lifted its stake in Enerflex by 35.6% during the third quarter. Taconic Capital Advisors LP now owns 1,771,800 shares of the company’s stock worth $10,559,000 after purchasing an additional 465,000 shares during the period. Finally, PCJ Investment Counsel Ltd. lifted its stake in Enerflex by 14.1% during the third quarter. PCJ Investment Counsel Ltd. now owns 1,237,750 shares of the company’s stock worth $7,376,000 after purchasing an additional 152,990 shares during the period. Hedge funds and other institutional investors own 46.47% of the company’s stock.

Enerflex Company Profile

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.