Greenfire Resources Ltd. (NYSE:GFR) Short Interest Up 36.3% in December

Greenfire Resources Ltd. (NYSE:GFR) was the recipient of a large increase in short interest during the month of December. As of December 15th, there was short interest totaling 696,463 shares, an increase of 36.3% from the November 30th total of 511,101 shares. Approximately 1.3% of the shares of the company are sold short. Based on an average trading volume of 220,385 shares, the short-interest ratio is presently 3.2 days. Based on an average trading volume of 220,385 shares, the short-interest ratio is presently 3.2 days. Approximately 1.3% of the shares of the company are sold short.

Greenfire Resources Price Performance

Shares of NYSE GFR traded up $0.04 on Thursday, hitting $4.79. The company’s stock had a trading volume of 214,666 shares, compared to its average volume of 198,014. 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 50 day moving average of $4.78 and a 200-day moving average of $4.72. Greenfire Resources has a 12-month low of $3.81 and a 12-month high of $7.38. The company has a market capitalization of $332.76 million, a price-to-earnings ratio of 3.55 and a beta of 0.29.

Institutional Trading of Greenfire Resources

Hedge funds have recently bought and sold shares of the company. Polar Asset Management Partners Inc. purchased a new position in shares of Greenfire Resources during the 1st quarter worth $297,000. Bank of Montreal Can acquired a new position in Greenfire Resources in the second quarter valued at $1,702,000. MetLife Investment Management LLC acquired a new position in Greenfire Resources in the first quarter valued at $2,370,000. Encompass Capital Advisors LLC lifted its position in Greenfire Resources by 18.6% during the first quarter. Encompass Capital Advisors LLC now owns 4,803,504 shares of the company’s stock worth $28,197,000 after buying an additional 754,571 shares during the period. Finally, Louisbourg Investments Inc. boosted its stake in Greenfire Resources by 29.9% in the 2nd quarter. Louisbourg Investments Inc. now owns 483,379 shares of the company’s stock worth $2,147,000 after buying an additional 111,400 shares during the last quarter. Institutional investors and hedge funds own 88.89% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. Wall Street Zen upgraded shares of Greenfire Resources to a “hold” rating in a research report on Saturday, November 15th. Weiss Ratings reissued a “sell (d)” rating on shares of Greenfire Resources in a research note on Monday. Finally, BMO Capital Markets cut Greenfire Resources from an “outperform” rating to a “market perform” rating in a report on Monday, September 22nd. One investment analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company 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.