Greenfire Resources (NYSE:GFR) Stock Price Down 3.2% – Time to Sell?

Greenfire Resources Ltd. (NYSE:GFR) shares fell 3.2% during trading on Thursday . The company traded as low as $5.44 and last traded at $5.49. 37,911 shares changed hands during trading, a decline of 60% from the average session volume of 95,290 shares. The stock had previously closed at $5.67.

Analysts Set New Price Targets

GFR has been the subject of a number of research analyst reports. Weiss Ratings restated a “sell (d)” rating on shares of Greenfire Resources in a research report on Monday, December 29th. Wall Street Zen upgraded shares of Greenfire Resources to a “hold” rating in a report on Saturday, November 15th. One analyst has rated the stock with a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Greenfire Resources presently has an average rating of “Reduce”.

Greenfire Resources Trading Down 3.2%

The business has a 50-day moving average of $4.89 and a 200 day moving average of $4.82. The stock has a market cap of $381.39 million, a PE ratio of 4.07 and a beta of 0.29. The company has a debt-to-equity ratio of 0.36, a quick ratio of 2.05 and a current ratio of 2.27.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Turtle Creek Wealth Advisors LLC acquired a new stake in shares of Greenfire Resources during the third quarter worth $91,000. FNY Investment Advisers LLC grew its holdings in Greenfire Resources by 98.8% in the 2nd quarter. FNY Investment Advisers LLC now owns 33,061 shares of the company’s stock valued at $147,000 after buying an additional 16,428 shares during the period. Royal Bank of Canada grew its holdings in Greenfire Resources by 6,363.6% in the 1st quarter. Royal Bank of Canada now owns 56,750 shares of the company’s stock valued at $333,000 after buying an additional 55,872 shares during the period. Beverly Hills Private Wealth LLC increased its stake in shares of Greenfire Resources by 116.7% during the 2nd quarter. Beverly Hills Private Wealth LLC now owns 79,902 shares of the company’s stock valued at $356,000 after acquiring an additional 43,025 shares during the last quarter. Finally, MMCAP International Inc. SPC purchased a new position in shares of Greenfire Resources during the 3rd quarter worth about $1,148,000. Hedge funds and other institutional investors 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.