The stock of Enerflex Ltd (TSE:EFX) gapped down by $0.05 today and has $15.53 target or 4.00% below today’s $16.18 share price. The 8 months technical chart setup indicates high risk for the $1.42B company. The gap down was reported on Nov, 29 by Barchart.com. If the $15.53 price target is reached, the company will be worth $56.80 million less.
Gaps down are helpful for identifying a resistance level and to could also be used as a tradeable event. If traders are short the stock and it experiece gap down, then its usually advisable to hold the short for a bigger down move. Back-tests of such patterns show that two-thirds of the these patterns the stock performance worsens after the gap. The area gaps close 91% of the time, the breakaway gaps 1%, the continuation gaps 9% and the exhaustion gaps 64%. About 42,215 shares traded hands. Enerflex Ltd (TSE:EFX) has risen 38.47% since April 25, 2016 and is uptrending. It has outperformed by 33.21% the S&P500.
Enerflex Ltd (TSE:EFX) Ratings Coverage
Out of 5 analysts covering Enerflex (TSE:EFX), 3 rate it a “Buy”, 0 “Sell”, while 2 “Hold”. This means 60% are positive. $23 is the highest target while $13 is the lowest. The $17.16 average target is 6.06% above today’s ($16.18) stock price. Enerflex has been the topic of 20 analyst reports since July 21, 2015 according to StockzIntelligence Inc. As per Friday, August 7, the company rating was downgraded by Scotia Capital. TD Securities maintained the stock with “Buy” rating in Monday, September 19 report. TD Securities maintained the stock with “Buy” rating in Friday, August 7 report. The rating was upgraded by IBC to “Sector Outperformer” on Wednesday, September 23. The firm has “Outperform” rating by BMO Capital Markets given on Monday, August 10. The firm has “Outperform” rating given on Friday, August 7 by Scotia Capital. Raymond James upgraded Enerflex Ltd (TSE:EFX) rating on Tuesday, August 11. Raymond James has “Market Perform” rating and $15 price target.
More recent Enerflex Ltd (TSE:EFX) news were published by: Marketwired.com which released: “Enerflex Ltd. Announces $100 Million Bought Deal Financing” on August 16, 2016. Also Marketwired.com published the news titled: “Enerflex Ltd. Announces Closing of Bought Deal Financing Including Exercise in …” on September 07, 2016. Theglobeandmail.com‘s news article titled: “Enerflex Ltd. not a risk-free environment” with publication date: August 12, 2015 was also an interesting one.
Enerflex Ltd. is a Canada-based supplier of natural gas compression, gas and oil processing, refrigeration systems and electric power equipment. The company has a market cap of $1.42 billion. The Company’s in‐house resources provide the capability to engineer, design, manufacture, construct, commission and service hydrocarbon handling systems. It currently has negative earnings. The Firm operates through three divisions: Canada, USA and Rest of World.
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