Short Interest in Greenfire Resources Ltd. (NYSE:GFR) Decreases By 13.2%

Greenfire Resources Ltd. (NYSE:GFR) was the recipient of a significant decline in short interest during the month of February. As of February 13th, there was short interest totaling 69,046 shares, a decline of 13.2% from the January 29th total of 79,532 shares. Approximately 0.1% of the shares of the stock are short sold. Based on an average daily trading volume, of 57,715 shares, the days-to-cover ratio is presently 1.2 days. Based on an average daily trading volume, of 57,715 shares, the days-to-cover ratio is presently 1.2 days. Approximately 0.1% of the shares of the stock are short sold.

Hedge Funds Weigh In On Greenfire Resources

A number of hedge funds have recently modified their holdings of the stock. Encompass Capital Advisors LLC grew its stake in Greenfire Resources by 3.0% in the second quarter. Encompass Capital Advisors LLC now owns 4,947,437 shares of the company’s stock valued at $22,066,000 after purchasing an additional 143,933 shares in the last quarter. BW Gestao de Investimentos Ltda. lifted its holdings in shares of Greenfire Resources by 95.8% during the 2nd quarter. BW Gestao de Investimentos Ltda. now owns 3,296,823 shares of the company’s stock valued at $14,704,000 after buying an additional 1,613,198 shares during the last quarter. Moerus Capital Management LLC bought a new stake in shares of Greenfire Resources in the 4th quarter valued at approximately $8,082,000. Bank of Montreal Can grew its stake in shares of Greenfire Resources by 165.8% in the 4th quarter. Bank of Montreal Can now owns 1,012,920 shares of the company’s stock valued at $4,821,000 after buying an additional 631,848 shares in the last quarter. Finally, K2 Principal Fund L.P. increased its holdings in Greenfire Resources by 88.8% in the fourth quarter. K2 Principal Fund L.P. now owns 845,285 shares of the company’s stock worth $4,024,000 after buying an additional 397,685 shares during the last quarter. 88.89% of the stock is owned by institutional investors and hedge funds.

Greenfire Resources Stock Up 5.5%

Shares of NYSE GFR traded up $0.33 during mid-day trading on Thursday, reaching $6.38. The company had a trading volume of 171,262 shares, compared to its average volume of 97,583. The company has a debt-to-equity ratio of 0.36, a quick ratio of 2.05 and a current ratio of 2.27. The company has a market capitalization of $443.21 million, a price-to-earnings ratio of 4.73 and a beta of 0.27. The stock has a fifty day moving average of $5.36 and a two-hundred day moving average of $5.00. Greenfire Resources has a 12-month low of $3.81 and a 12-month high of $6.50.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on GFR. Weiss Ratings restated a “sell (d)” rating on shares of Greenfire Resources in a report on Monday, December 29th. Wall Street Zen raised Greenfire Resources to a “hold” rating in a research note on Saturday, November 15th. One analyst has rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Greenfire Resources has an average rating of “Reduce”.

About Greenfire Resources

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.