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

Greenfire Resources Ltd. (NYSE:GFR) saw a large growth in short interest in May. As of May 15th, there was short interest totaling 92,376 shares, a growth of 140.5% from the April 30th total of 38,403 shares. Based on an average daily volume of 219,692 shares, the short-interest ratio is currently 0.4 days. Approximately 0.1% of the company’s stock are short sold.

Hedge Funds Weigh In On Greenfire Resources

Several hedge funds have recently added to or reduced their stakes in the stock. Moerus Capital Management LLC acquired a new stake in shares of Greenfire Resources in the fourth quarter valued at approximately $8,082,000. BW Gestao de Investimentos Ltda. grew its position in Greenfire Resources by 95.8% in the second quarter. BW Gestao de Investimentos Ltda. now owns 3,296,823 shares of the company’s stock valued at $14,704,000 after purchasing an additional 1,613,198 shares in the last quarter. Saber Capital Managment LLC acquired a new stake in Greenfire Resources in the 4th quarter valued at $3,270,000. Bank of Montreal Can lifted its position in Greenfire Resources by 165.8% during the 4th quarter. Bank of Montreal Can now owns 1,012,920 shares of the company’s stock worth $4,821,000 after buying an additional 631,848 shares in the last quarter. Finally, K2 Principal Fund L.P. boosted its stake in shares of Greenfire Resources by 88.8% during the 4th quarter. K2 Principal Fund L.P. now owns 845,285 shares of the company’s stock worth $4,024,000 after buying an additional 397,685 shares during the last quarter. Institutional investors and hedge funds own 88.89% of the company’s stock.

Greenfire Resources Stock Performance

Shares of GFR stock traded up $0.23 during trading on Tuesday, reaching $5.86. The company had a trading volume of 248,033 shares, compared to its average volume of 180,484. The company has a debt-to-equity ratio of 0.01, a current ratio of 0.66 and a quick ratio of 0.54. Greenfire Resources has a one year low of $4.10 and a one year high of $7.02. The company has a market capitalization of $735.01 million, a PE ratio of -65.11 and a beta of 0.26. The firm’s 50 day simple moving average is $6.15 and its two-hundred day simple moving average is $5.59.

Greenfire Resources (NYSE:GFR) last issued its earnings results on Thursday, March 12th. The company reported ($0.08) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.14 by ($0.22). Greenfire Resources had a negative net margin of 7.55% and a negative return on equity of 4.20%. The business had revenue of $100.73 million during the quarter.

Analysts Set New Price Targets

Separately, Weiss Ratings cut Greenfire Resources from a “sell (d+)” rating to a “sell (d)” rating in a research note on Monday, May 18th. One research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Reduce”.

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.