Enerflex Ltd T.EFX

Ink Research

[retiredcf]

Morning Report: Enerflex short sellers retreat 

February 7, 2023

Today we revisit energy infrastructure and energy transition solutions provider Enerflex (EFX), last featured here on November 30th. Since that report, the stock is up 2.5%, setting a 52-week high of $10.19 on January 27th. In addition, based on its INK Edge outlook ranking, Enerflex grabbed the 2nd spot in our January Top Energy report, up from 5th in December. Enerflex is among the stocks with the largest drop in short-sellers according to INK and end-of-January IIROC data. As of January 31st, it had 765,162 shares shorted (0.62% of its float), down from 2,734,304 shares (2.22% of float) on January 15th. Despite the drop, based on INK signals the stock has a potential short-squeeze setup as short sellers are betting against a stock with relatively high insider commitment.

On January 20th, Enerflex reported that it was appointing Laura Folse to its board of directors. Ms. Folse is the former CEO of BP Wind Energy, North America and is currently also a director at Transalta (Cloudy; TA).

Enerflex will report Q4 and full-year 2022 financial results after the close on March 1st. Meanwhile, insiders have been net buyers of $255,850 worth of shares through a combination of public market purchases and options exercises since our last report.