Greenfire Resources (NYSE:GFR) Shares Gap Down – Time to Sell?

Greenfire Resources Ltd. (NYSE:GFR)’s share price gapped down prior to trading on Thursday . The stock had previously closed at $5.60, but opened at $5.36. Greenfire Resources shares last traded at $5.4550, with a volume of 2,847 shares.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on GFR shares. TD Securities initiated coverage on shares of Greenfire Resources in a report on Tuesday, June 16th. They set a “buy” rating on the stock. Weiss Ratings lowered Greenfire Resources from a “sell (d+)” rating to a “sell (d)” rating in a research report on Monday, May 18th. One investment analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Greenfire Resources currently has an average rating of “Hold”.

Greenfire Resources Stock Performance

The firm has a market cap of $702.30 million, a PE ratio of -62.22 and a beta of 0.20. The business has a 50 day simple moving average of $5.92 and a two-hundred day simple moving average of $5.67. The company has a quick ratio of 0.54, a current ratio of 0.66 and a debt-to-equity ratio of 0.01.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Deltroit Asset Management UK LLP purchased a new stake in Greenfire Resources in the 4th quarter valued at about $48,000. Raffles Associates LP purchased a new position in shares of Greenfire Resources during the fourth quarter worth approximately $50,000. WINTON GROUP Ltd bought a new stake in shares of Greenfire Resources during the fourth quarter valued at approximately $64,000. Jane Street Group LLC bought a new stake in shares of Greenfire Resources during the fourth quarter valued at approximately $74,000. Finally, Turtle Creek Wealth Advisors LLC bought a new stake in shares of Greenfire Resources during the first quarter valued at approximately $141,000. 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.