Short Interest in Innergex Renewable Energy Inc. (OTCMKTS:INGXF) Grows By 33.1%

Innergex Renewable Energy Inc. (OTCMKTS:INGXF – Get Rating) saw a significant increase in short interest during the month of January. As of January 31st, there was short interest totalling 1,540,600 shares, an increase of 33.1% from the January 15th total of 1,157,800 shares. Based on an average daily volume of 18,800 shares, the days-to-cover ratio is presently 81.9 days.

Innergex Renewable Energy Stock Performance

OTCMKTS INGXF opened at $11.72 on Wednesday. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 3.51. Innergex Renewable Energy has a 52-week low of $10.18 and a 52-week high of $16.16. The business’s 50-day moving average price is $12.05 and its 200 day moving average price is $12.78. The firm has a market cap of $2.39 billion, a P/E ratio of -65.10 and a beta of 0.53.

Innergex Renewable Energy Cuts Dividend

The business also recently declared a dividend, which was paid on Monday, January 16th. Investors of record on Friday, December 30th were issued a dividend of $0.1331 per share. This represents a dividend yield of 4.4%. The ex-dividend date was Thursday, December 29th. Innergex Renewable Energy’s dividend payout ratio is currently -300.00%.

Wall Street Analyst Weigh In

INGXF has been the topic of several research reports. Scotiabank raised their price objective on Innergex Renewable Energy from C$18.00 to C$19.25 in a report on Thursday, December 15th. BMO Capital Markets dropped their price objective on Innergex Renewable Energy from C$19.00 to C$18.00 in a report on Thursday, January 19th. CIBC lowered Innergex Renewable Energy from an “outperform” rating to a “neutral” rating in a report on Monday, January 9th. Finally, TD Securities raised Innergex Renewable Energy from a “hold” rating to a “buy” rating in a report on Wednesday, November 9th.

About Innergex Renewable Energy

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Innergex Renewable Energy, Inc engages in the development, acquisition, and operations of run-of-river hydroelectric facilities, wind farms, solar photovoltaic farms, and geothermal power generation plants. It operates through the following segments: Hydroelectric Generation, Wind Power Generation, and Solar Power Generation.

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