Greenfire Resources Ltd. (NYSE:GFR) Shares Shorted: Short Interest Down 81.6% in September

Greenfire Resources Ltd. (NYSE:GFR) saw a large decline in short interest during the month of September. As of September 30th, there was short interest totaling 589,397 shares, a decline of 81.6% from the September 15th total of 3,207,214 shares. Based on an average trading volume of 1,153,957 shares, the short-interest ratio is currently 0.5 days. Approximately 0.6% of the company’s shares are short sold.

Institutional Trading of Greenfire Resources

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Donald Smith & CO. Inc. bought a new stake in Greenfire Resources during the 2nd quarter valued at approximately $1,672,000. Militia Capital Management LLC bought a new position in shares of Greenfire Resources in the 1st quarter worth approximately $1,637,000. Moerus Capital Management LLC raised its position in shares of Greenfire Resources by 37.9% in the 1st quarter. Moerus Capital Management LLC now owns 2,335,804 shares of the company’s stock worth $14,838,000 after acquiring an additional 642,312 shares in the last quarter. Saber Capital Managment LLC bought a new position in shares of Greenfire Resources in the 4th quarter worth approximately $3,270,000. Finally, Aegis Financial Corp lifted its stake in shares of Greenfire Resources by 133.1% in the 1st quarter. Aegis Financial Corp now owns 417,548 shares of the company’s stock valued at $2,639,000 after purchasing an additional 238,417 shares during the period. 88.89% of the stock is currently owned by hedge funds and other institutional investors.

Greenfire Resources Trading Up 0.1%

Greenfire Resources stock traded up $0.01 during mid-day trading on Monday, reaching $6.36. 1,029,303 shares of the company traded hands, compared to its average volume of 1,212,563. The company has a debt-to-equity ratio of 0.03, a current ratio of 0.96 and a quick ratio of 0.76. The firm’s 50 day moving average price is $6.27 and its 200 day moving average price is $6.09. The firm has a market capitalization of $796.98 million, a price-to-earnings ratio of -22.70 and a beta of 0.19. Greenfire Resources has a 52-week low of $4.15 and a 52-week high of $7.16.

Greenfire Resources (NYSE:GFR) last issued its quarterly earnings data on Wednesday, August 5th. The company reported $0.31 EPS for the quarter, topping the consensus estimate of $0.01 by $0.30. The business had revenue of $123.86 million during the quarter, compared to analyst estimates of $107.41 million. Greenfire Resources had a negative net margin of 6.36% and a negative return on equity of 3.50%.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the stock. Royal Bank Of Canada assumed coverage on shares of Greenfire Resources in a research report on Monday, July 6th. They set a “hold” rating for the company. Weiss Ratings upgraded shares of Greenfire Resources from a “sell (d)” rating to a “sell (d+)” rating in a research report on Thursday. BMO Capital Markets upgraded shares of Greenfire Resources from a “market perform” rating to an “outperform” rating and set a $11.50 price objective on the stock in a research report on Wednesday, August 5th. Finally, TD Securities raised shares of Greenfire Resources to a “strong-buy” rating in a research note on Thursday, July 23rd. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Greenfire Resources has an average rating of “Moderate Buy” and a consensus price target of $11.50.

About Greenfire Resources

Greenfire Resources Ltd. is a Canadian energy company focused on the development and production of bitumen from the Athabasca oil sands in Alberta. The company uses thermal recovery methods, including steam-assisted gravity drainage (SAGD), to produce heavy oil that can be processed into marketable crude oil products.

Greenfire’s principal assets are the Hangingstone Expansion and Hangingstone Demonstration oil sands projects, located south of Fort McMurray, Alberta. These facilities are designed to recover bitumen from the company’s resource leases, with production supported by steam generation, extraction, and related oil sands infrastructure.

Headquartered in Calgary, Alberta, Greenfire serves energy markets through the production and sale of bitumen and heavy crude oil.