Greenfire Resources Ltd. (NYSE:GFR – Get Free Report) was the target of a large drop in short interest in the month of September. As of September 30th, there was short interest totaling 589,397 shares, a drop of 81.6% from the September 15th total of 3,207,214 shares. Based on an average daily trading volume, of 1,153,957 shares, the short-interest ratio is presently 0.5 days. Currently, 0.6% of the company’s shares are sold short.
Hedge Funds Weigh In On Greenfire Resources
Several institutional investors have recently added to or reduced their stakes in the stock. Engineers Gate Manager LP purchased a new position in Greenfire Resources during the second quarter valued at approximately $60,000. Turtle Creek Wealth Advisors LLC purchased a new stake in Greenfire Resources in the 1st quarter worth approximately $141,000. Renaissance Technologies LLC lifted its stake in Greenfire Resources by 25.7% in the 1st quarter. Renaissance Technologies LLC now owns 161,262 shares of the company’s stock worth $1,019,000 after purchasing an additional 32,962 shares in the last quarter. Bank of America Corp DE boosted its holdings in Greenfire Resources by 2,709.5% in the 1st quarter. Bank of America Corp DE now owns 42,142 shares of the company’s stock valued at $266,000 after purchasing an additional 40,642 shares during the period. Finally, Walleye Capital LLC purchased a new position in shares of Greenfire Resources during the 1st quarter valued at $378,000. Institutional investors own 88.89% of the company’s stock.
Greenfire Resources Stock Performance
Shares of GFR opened at $6.37 on Friday. Greenfire Resources has a one year low of $4.15 and a one year high of $7.16. The company has a market cap of $798.86 million, a PE ratio of -22.75 and a beta of 0.19. The stock has a 50-day moving average of $6.27 and a 200-day moving average of $6.10. The company has a debt-to-equity ratio of 0.03, a current ratio of 0.96 and a quick ratio of 0.76.
Greenfire Resources (NYSE:GFR – Get Free Report) last released its quarterly earnings data 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 the consensus estimate of $107.41 million. Greenfire Resources had a negative net margin of 6.36% and a negative return on equity of 3.50%.
Analyst Upgrades and Downgrades
Several analysts recently weighed in on the stock. BMO Capital Markets raised 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 note on Wednesday, August 5th. Weiss Ratings raised Greenfire Resources from a “sell (d)” rating to a “sell (d+)” rating in a report on Thursday. Royal Bank Of Canada assumed coverage on Greenfire Resources in a research report on Monday, July 6th. They issued a “hold” rating on the stock. Finally, TD Securities raised 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 given a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $11.50.
Read Our Latest Analysis on GFR
Greenfire Resources Company Profile
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.
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