Short Interest in Innergex Renewable Energy Inc. (OTCMKTS:INGXF) Drops By 28.4%

Innergex Renewable Energy Inc. (OTCMKTS:INGXF) was the target of a large decline in short interest in February. As of February 28th, there was short interest totalling 1,590,300 shares, a decline of 28.4% from the February 13th total of 2,222,200 shares. Currently, 0.8% of the company’s stock are short sold. Based on an average daily volume of 205,200 shares, the short-interest ratio is currently 7.8 days.

Innergex Renewable Energy Stock Up 0.4 %

OTCMKTS INGXF traded up $0.04 on Friday, reaching $9.39. 486 shares of the stock traded hands, compared to its average volume of 82,338. The company has a debt-to-equity ratio of 4.50, a quick ratio of 0.56 and a current ratio of 0.56. The company has a fifty day moving average price of $6.47 and a 200-day moving average price of $6.52. The company has a market cap of $1.91 billion, a price-to-earnings ratio of 312.83 and a beta of 0.56. Innergex Renewable Energy has a 12 month low of $4.81 and a 12 month high of $9.46.

Innergex Renewable Energy (OTCMKTS:INGXF) last issued its earnings results on Thursday, February 20th. The company reported $0.21 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.22. The business had revenue of $204.46 million during the quarter, compared to analyst estimates of $266.84 million. Innergex Renewable Energy had a return on equity of 4.40% and a net margin of 1.84%. As a group, research analysts forecast that Innergex Renewable Energy will post 0.09 EPS for the current fiscal year.

Innergex Renewable Energy Cuts Dividend

The business also recently declared a dividend, which was paid on Wednesday, January 15th. Stockholders of record on Wednesday, January 1st were given a $0.0649 dividend. This represents a dividend yield of 4.6%. The ex-dividend date was Tuesday, December 31st. Innergex Renewable Energy’s payout ratio is 800.00%.

Analyst Upgrades and Downgrades

INGXF has been the subject of a number of research analyst reports. National Bank Financial lowered Innergex Renewable Energy from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, February 25th. Raymond James lowered Innergex Renewable Energy from a “moderate buy” rating to a “hold” rating in a research report on Tuesday, February 25th.

About Innergex Renewable Energy

Innergex Renewable Energy Inc operates as an independent renewable power producer in Canada, the United States, France, and Chile. It acquires, owns, develops, and operates renewable power-generating and energy storage facilities primarily in hydroelectric, wind, and solar power sectors. The company operates through three segments: Hydroelectric Power Generation, Wind Power Generation, and Solar Power Generation.