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

Posted by Donna Armstrong on Nov 18th, 2024

Innergex Renewable Energy Inc. (OTCMKTS:INGXF – Get Free Report) was the recipient of a large increase in short interest in the month of October. As of October 31st, there was short interest totalling 2,323,000 shares, an increase of 6.4% from the October 15th total of 2,183,100 shares. Based on an average daily volume of 34,100 shares, the days-to-cover ratio is presently 68.1 days.

Innergex Renewable Energy Stock Performance

INGXF opened at $6.08 on Monday. The company has a quick ratio of 0.57, a current ratio of 0.57 and a debt-to-equity ratio of 4.19. The stock’s 50 day moving average price is $6.97 and its two-hundred day moving average price is $7.01. The firm has a market capitalization of $1.24 billion, a P/E ratio of -12.41 and a beta of 0.66. Innergex Renewable Energy has a 12-month low of $5.26 and a 12-month high of $7.90.

Innergex Renewable Energy (OTCMKTS:INGXF – Get Free Report) 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, equities analysts forecast that Innergex Renewable Energy will post -0.07 earnings per share for the current year.

Innergex Renewable Energy Cuts Dividend

The business also recently disclosed a dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were given a dividend of $0.0655 per share. This represents a dividend yield of 3.57%. The ex-dividend date of this dividend was Friday, September 27th. Innergex Renewable Energy’s dividend payout ratio is currently -55.10%.

Innergex Renewable Energy Company Profile

(Get Free Report)

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.