Greenfire Resources (NYSE:GFR) Shares Gap Down – What’s Next?

Greenfire Resources Ltd. (NYSE:GFR)’s stock price gapped down prior to trading on Thursday . The stock had previously closed at $5.60, but opened at $5.36. Greenfire Resources shares last traded at $5.4550, with a volume of 2,847 shares.

Analyst Ratings Changes

A number of brokerages have weighed in on GFR. TD Securities assumed coverage on Greenfire Resources in a research report on Tuesday, June 16th. They set a “buy” rating for the company. Weiss Ratings downgraded Greenfire Resources from a “sell (d+)” rating to a “sell (d)” rating in a research report on Monday, May 18th. One investment analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold”.

Greenfire Resources Price Performance

The company has a current ratio of 0.66, a quick ratio of 0.54 and a debt-to-equity ratio of 0.01. The firm’s 50-day moving average price is $5.92 and its two-hundred day moving average price is $5.67. The stock has a market cap of $702.30 million, a PE ratio of -62.22 and a beta of 0.20.

Institutional Trading of Greenfire Resources

Several hedge funds and other institutional investors have recently bought and sold shares of GFR. BW Gestao de Investimentos Ltda. increased its holdings in shares of Greenfire Resources by 95.8% in the 2nd quarter. BW Gestao de Investimentos Ltda. now owns 3,296,823 shares of the company’s stock valued at $14,704,000 after acquiring an additional 1,613,198 shares during the period. Moerus Capital Management LLC boosted its position in Greenfire Resources by 37.9% during the first quarter. Moerus Capital Management LLC now owns 2,335,804 shares of the company’s stock valued at $14,838,000 after purchasing an additional 642,312 shares in the last quarter. Bank of Montreal Can boosted its position in Greenfire Resources by 165.8% during the fourth quarter. Bank of Montreal Can now owns 1,012,920 shares of the company’s stock valued at $4,821,000 after purchasing an additional 631,848 shares in the last quarter. K2 Principal Fund L.P. grew its stake in Greenfire Resources by 88.8% in the fourth quarter. K2 Principal Fund L.P. now owns 845,285 shares of the company’s stock valued at $4,024,000 after purchasing an additional 397,685 shares during the last quarter. Finally, Saber Capital Managment LLC bought a new stake in shares of Greenfire Resources in the 4th quarter valued at about $3,270,000. Institutional investors own 88.89% of the company’s stock.

About Greenfire Resources

Greenfire Resources Ltd., together with its subsidiaries, engages in the development, exploration, and operation of oil and gas properties in the Athabasca oil sands region of Alberta. The company operates the Tier-1 oil sands assets located in Western Canada. It utilizes steam-assisted gravity drainage (SAGD) extraction technology, a situ thermal oil recovery process to recover diluted and non- diluted bitumen. The company is headquartered in Calgary, Canada.