Greenfire Resources Ltd. (NYSE:GFR) Sees Large Drop in Short Interest

Greenfire Resources Ltd. (NYSE:GFR) was the target of a large decrease in short interest in March. As of March 13th, there was short interest totaling 29,013 shares, a decrease of 54.6% from the February 26th total of 63,932 shares. Based on an average daily volume of 227,097 shares, the short-interest ratio is presently 0.1 days. Currently, 0.1% of the shares of the stock are short sold.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings restated a “sell (d)” rating on shares of Greenfire Resources in a report on Monday, December 29th. One analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Reduce”.

Greenfire Resources Stock Up 2.0%

Greenfire Resources stock traded up $0.13 during trading hours on Friday, reaching $6.56. 316,413 shares of the company’s stock were exchanged, compared to its average volume of 189,011. The firm’s 50 day simple moving average is $5.92 and its 200 day simple moving average is $5.17. Greenfire Resources has a twelve month low of $3.81 and a twelve month high of $7.02. The firm has a market capitalization of $455.79 million, a PE ratio of 13.39 and a beta of 0.27.

Greenfire Resources (NYSE:GFR) last announced its quarterly earnings data on Thursday, March 12th. The company reported ($0.08) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.22). The business had revenue of $100.73 million during the quarter. Greenfire Resources had a net margin of 8.01% and a return on equity of 5.03%.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in GFR. 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 acquiring an additional 143,933 shares during the period. BW Gestao de Investimentos Ltda. raised its position in shares of Greenfire Resources by 95.8% during the second quarter. BW Gestao de Investimentos Ltda. now owns 3,296,823 shares of the company’s stock worth $14,704,000 after purchasing an additional 1,613,198 shares during the period. Moerus Capital Management LLC acquired a new position in shares of Greenfire Resources during the fourth quarter worth approximately $8,082,000. Bank of Montreal Can lifted its holdings 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 worth $4,821,000 after purchasing an additional 631,848 shares in the last quarter. Finally, K2 Principal Fund L.P. lifted its holdings in shares of Greenfire Resources by 88.8% in the 4th quarter. K2 Principal Fund L.P. now owns 845,285 shares of the company’s stock worth $4,024,000 after purchasing an additional 397,685 shares in the last quarter. 88.89% of the stock is owned by institutional investors and hedge funds.

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.