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

Innergex Renewable Energy Inc. (OTCMKTS:INGXF) was the target of a significant 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. Based on an average daily volume of 205,200 shares, the short-interest ratio is currently 7.8 days. Approximately 0.8% of the shares of the stock are sold short.

Innergex Renewable Energy Trading Up 0.8 %

OTCMKTS INGXF traded up $0.08 on Monday, reaching $9.46. The company had a trading volume of 1,619 shares, compared to its average volume of 80,369. The company has a debt-to-equity ratio of 4.50, a current ratio of 0.56 and a quick ratio of 0.56. The firm has a market cap of $1.92 billion, a price-to-earnings ratio of 315.33 and a beta of 0.56. The business has a 50 day moving average of $6.47 and a two-hundred day moving average of $6.52. Innergex Renewable Energy has a fifty-two week low of $4.81 and a fifty-two week high of $9.47.

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

Innergex Renewable Energy Cuts Dividend

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

Analysts Set New Price Targets

Several brokerages have commented on INGXF. National Bank Financial downgraded shares of Innergex Renewable Energy from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, February 25th. Raymond James downgraded shares of Innergex Renewable Energy from a “moderate buy” rating to a “hold” rating in a 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.