Innergex Renewable Energy Inc. (OTCMKTS:INGXF) Sees Large Increase in Short Interest

Innergex Renewable Energy Inc. (OTCMKTS:INGXF) saw a significant increase in short interest in the month of November. As of November 15th, there was short interest totalling 2,719,400 shares, an increase of 17.1% from the October 31st total of 2,323,000 shares. Based on an average daily volume of 63,400 shares, the days-to-cover ratio is presently 42.9 days.

Innergex Renewable Energy Stock Performance

INGXF stock traded down $0.11 on Monday, reaching $6.19. 8,700 shares of the company were exchanged, compared to its average volume of 49,886. Innergex Renewable Energy has a 12 month low of $5.26 and a 12 month high of $7.90. The stock’s fifty day moving average price is $6.78 and its 200 day moving average price is $7.01. The firm has a market capitalization of $1.26 billion, a PE ratio of -12.63 and a beta of 0.66. The company has a debt-to-equity ratio of 4.19, a current ratio of 0.57 and a quick ratio of 0.57.

Innergex Renewable Energy (OTCMKTS:INGXF) last announced its earnings results on Wednesday, November 6th. The company reported $0.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.02 by $0.01. The business had revenue of $179.04 million for the quarter, compared to analyst estimates of $192.68 million. Innergex Renewable Energy had a negative net margin of 13.73% and a negative return on equity of 1.74%. On average, research analysts anticipate that Innergex Renewable Energy will post -0.07 EPS for the current fiscal year.

Innergex Renewable Energy Cuts Dividend

The firm also recently declared a dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were issued a $0.0655 dividend. This represents a yield of 3.57%. The ex-dividend date of this dividend was Friday, September 27th. Innergex Renewable Energy’s dividend payout ratio (DPR) is presently -53.06%.

Innergex Renewable Energy Company Profile

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.