Greenfire Resources Ltd. (NYSE:GFR) Short Interest Down 50.6% in December

Greenfire Resources Ltd. (NYSE:GFR) was the recipient of a significant drop in short interest in the month of December. As of December 31st, there was short interest totaling 344,239 shares, a drop of 50.6% from the December 15th total of 696,463 shares. Based on an average daily volume of 183,428 shares, the short-interest ratio is presently 1.9 days. Approximately 0.6% of the shares of the stock are sold short. Approximately 0.6% of the shares of the stock are sold short. Based on an average daily volume of 183,428 shares, the short-interest ratio is presently 1.9 days.

Analysts Set New Price Targets

A number of research firms have recently issued reports on GFR. Wall Street Zen upgraded Greenfire Resources to a “hold” rating in a research report on Saturday, November 15th. BMO Capital Markets downgraded shares of Greenfire Resources from an “outperform” rating to a “market perform” rating in a report on Monday, September 22nd. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Greenfire Resources in a report on Monday, December 29th. One analyst has rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Reduce”.

Institutional Trading of Greenfire Resources

Several hedge funds and other institutional investors have recently added to or reduced their stakes in GFR. BW Gestao de Investimentos Ltda. lifted its holdings in shares of Greenfire Resources by 95.8% during the 2nd quarter. BW Gestao de Investimentos Ltda. now owns 3,296,823 shares of the company’s stock worth $14,704,000 after acquiring an additional 1,613,198 shares during the period. Bank of Montreal Can acquired a new position in Greenfire Resources during the second quarter worth approximately $1,702,000. MMCAP International Inc. SPC purchased a new position in Greenfire Resources during the third quarter worth approximately $1,148,000. Encompass Capital Advisors LLC boosted its holdings in shares of Greenfire Resources by 3.0% in the 2nd quarter. Encompass Capital Advisors LLC now owns 4,947,437 shares of the company’s stock valued at $22,066,000 after purchasing an additional 143,933 shares during the last quarter. Finally, Louisbourg Investments Inc. grew its stake in shares of Greenfire Resources by 29.9% during the 2nd quarter. Louisbourg Investments Inc. now owns 483,379 shares of the company’s stock valued at $2,147,000 after buying an additional 111,400 shares during the period. Hedge funds and other institutional investors own 88.89% of the company’s stock.

Greenfire Resources Trading Down 1.0%

GFR traded down $0.05 during trading on Friday, hitting $4.93. The company’s stock had a trading volume of 60,991 shares, compared to its average volume of 157,677. Greenfire Resources has a twelve month low of $3.81 and a twelve month high of $7.02. The firm’s 50 day moving average price is $4.79 and its 200-day moving average price is $4.72. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.27 and a quick ratio of 2.05. The stock has a market cap of $342.49 million, a PE ratio of 3.65 and a beta of 0.28.

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.