Greenfire Resources Ltd. (NYSE:GFR) Short Interest Update

Greenfire Resources Ltd. (NYSE:GFR) saw a significant growth in short interest during the month of August. As of August 14th, there was short interest totaling 861,228 shares, a growth of 682.8% from the July 30th total of 110,018 shares. Currently, 0.9% of the company’s shares are short sold. Based on an average daily volume of 399,498 shares, the days-to-cover ratio is currently 2.2 days.

Hedge Funds Weigh In On Greenfire Resources

Institutional investors and hedge funds have recently modified their holdings of the stock. Deltroit Asset Management UK LLP bought a new position in Greenfire Resources in the 4th quarter valued at approximately $48,000. Raffles Associates LP bought a new stake in shares of Greenfire Resources in the 4th quarter worth $50,000. WINTON GROUP Ltd purchased a new position in shares of Greenfire Resources in the fourth quarter worth $64,000. Jane Street Group LLC purchased a new position in shares of Greenfire Resources in the fourth quarter worth $74,000. Finally, Renaissance Technologies LLC raised its stake in shares of Greenfire Resources by 15.9% in the fourth quarter. Renaissance Technologies LLC now owns 128,300 shares of the company’s stock worth $611,000 after purchasing an additional 17,600 shares during the last quarter. 88.89% of the stock is currently owned by institutional investors.

Greenfire Resources Stock Performance

Shares of GFR opened at $6.21 on Wednesday. The company has a quick ratio of 0.76, a current ratio of 0.96 and a debt-to-equity ratio of 0.03. The business’s 50 day moving average price is $6.08 and its 200-day moving average price is $6.06. Greenfire Resources has a 52 week low of $4.15 and a 52 week high of $7.16. The stock has a market cap of $779.17 million, a P/E ratio of -22.19 and a beta of 0.19.

Greenfire Resources (NYSE:GFR) last posted its quarterly earnings results on Wednesday, August 5th. The company reported $0.31 earnings per share for the quarter, topping the consensus estimate of $0.01 by $0.30. The company had revenue of $123.86 million for the quarter, compared to the consensus estimate of $107.41 million. Greenfire Resources had a negative return on equity of 3.50% and a negative net margin of 6.36%.

Wall Street Analyst Weigh In

A number of research analysts have commented on GFR shares. BMO Capital Markets raised Greenfire Resources from a “market perform” rating to an “outperform” rating and set a $11.50 price target for the company in a research report on Wednesday, August 5th. Weiss Ratings reissued a “sell (d)” rating on shares of Greenfire Resources in a research report on Thursday, August 13th. TD Securities raised shares of Greenfire Resources to a “strong-buy” rating in a research note on Thursday, July 23rd. Finally, Royal Bank Of Canada assumed coverage on shares of Greenfire Resources in a research report on Monday, July 6th. They set a “hold” rating on the stock. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $11.50.

Greenfire Resources Company Profile

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.