Greenfire Resources (NYSE:GFR) Sees Unusually-High Trading Volume – What’s Next?

Shares of Greenfire Resources Ltd. (NYSE:GFR) saw strong trading volume on Thursday . 164,902 shares changed hands during trading, a decline of 17% from the previous session’s volume of 198,798 shares.The stock last traded at $6.3870 and had previously closed at $6.18.

Analyst Ratings Changes

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

Greenfire Resources Stock Up 1.6%

The firm has a market cap of $811.40 million, a price-to-earnings ratio of -23.11 and a beta of 0.19. The stock has a 50-day moving average of $6.05 and a 200-day moving average of $6.05. The company has a current ratio of 0.96, a quick ratio of 0.76 and a debt-to-equity ratio of 0.03.

Greenfire Resources (NYSE:GFR) last issued its 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 firm had revenue of $123.86 million for the quarter, compared to analyst estimates of $107.41 million. Greenfire Resources had a negative return on equity of 3.50% and a negative net margin of 6.36%.

Institutional Trading of Greenfire Resources

Large investors have recently modified their holdings of the company. Militia Capital Management LLC acquired a new position in Greenfire Resources during the 1st quarter valued at about $1,637,000. Moerus Capital Management LLC increased its stake in shares of Greenfire Resources by 37.9% in 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 during the period. Saber Capital Managment LLC acquired a new stake in shares of Greenfire Resources in the fourth quarter valued at approximately $3,270,000. Aegis Financial Corp raised its holdings in shares of Greenfire Resources by 133.1% during the first quarter. Aegis Financial Corp now owns 417,548 shares of the company’s stock valued at $2,639,000 after buying an additional 238,417 shares during the last quarter. Finally, K2 Principal Fund L.P. raised its holdings in shares of Greenfire Resources by 88.8% during the fourth quarter. K2 Principal Fund L.P. now owns 845,285 shares of the company’s stock valued at $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 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.