Innergex Renewable Energy Inc. (OTCMKTS:INGXF – Get Rating) saw a significant growth in short interest in August. As of August 15th, there was short interest totalling 1,582,400 shares, a growth of 10.7% from the July 31st total of 1,429,600 shares. Based on an average daily trading volume, of 17,800 shares, the short-interest ratio is currently 88.9 days.
Innergex Renewable Energy Stock Down 1.9 %
OTCMKTS:INGXF opened at $14.99 on Wednesday. The company has a debt-to-equity ratio of 3.03, a quick ratio of 0.59 and a current ratio of 0.59. The stock has a market capitalization of $3.06 billion, a P/E ratio of -44.09 and a beta of 0.51. The company's 50-day simple moving average is $14.49 and its 200-day simple moving average is $14.34. Innergex Renewable Energy has a fifty-two week low of $12.26 and a fifty-two week high of $17.80.
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Innergex Renewable Energy (OTCMKTS:INGXF – Get Rating) last posted its quarterly earnings data on Wednesday, August 3rd. The company reported ($0.01) earnings per share (EPS) for the quarter. The company had revenue of $172.19 million for the quarter. Innergex Renewable Energy had a negative net margin of 9.83% and a negative return on equity of 0.16%.
Innergex Renewable Energy Cuts Dividend
The business also recently declared a dividend, which was paid on Friday, July 15th. Shareholders of record on Thursday, June 30th were issued a $0.1383 dividend. This represents a yield of 4.12%. The ex-dividend date of this dividend was Wednesday, June 29th. Innergex Renewable Energy's payout ratio is presently -167.64%.
Wall Street Analysts Forecast Growth
A number of equities research analysts have issued reports on the company. Desjardins decreased their price objective on Innergex Renewable Energy from C$20.50 to C$20.00 in a research report on Thursday, May 12th. National Bank Financial lifted their price target on shares of Innergex Renewable Energy from C$23.00 to C$24.00 in a research note on Thursday, July 28th. Finally, TD Securities upgraded shares of Innergex Renewable Energy from a "hold" rating to a "buy" rating in a report on Wednesday, May 11th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $22.39.
About Innergex Renewable Energy
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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 hydroelectric facilities, and wind and solar farms, as well as energy storage facilities. The company operates through three segments: Hydroelectric Power Generation, Wind Power Generation, and Solar Power Generation.
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