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

Greenfire Resources Ltd. (NYSE:GFR) was the target of a significant drop in short interest during the month of December. As of December 31st, there was short interest totaling 344,239 shares, a drop of 50.6% from the December 15th total of 696,463 shares. Based on an average daily volume of 183,428 shares, the short-interest ratio is presently 1.9 days. Currently, 0.6% of the company’s stock are sold short. Currently, 0.6% of the company’s stock are sold short. Based on an average daily volume of 183,428 shares, the short-interest ratio is presently 1.9 days.

Greenfire Resources Stock Performance

GFR traded down $0.10 during trading hours on Thursday, hitting $4.97. The company’s stock had a trading volume of 62,754 shares, compared to its average volume of 163,487. The company has a 50-day simple moving average of $4.78 and a 200 day simple moving average of $4.72. The company has a current ratio of 2.27, a quick ratio of 2.05 and a debt-to-equity ratio of 0.36. The firm has a market capitalization of $344.99 million, a PE ratio of 3.68 and a beta of 0.28. Greenfire Resources has a fifty-two week low of $3.81 and a fifty-two week high of $7.34.

Hedge Funds Weigh In On Greenfire Resources

A number of institutional investors and hedge funds have recently bought and sold shares of GFR. Turtle Creek Wealth Advisors LLC bought a new stake in shares of Greenfire Resources during the 3rd quarter worth about $91,000. FNY Investment Advisers LLC increased its stake in shares of Greenfire Resources by 98.8% during the second quarter. FNY Investment Advisers LLC now owns 33,061 shares of the company’s stock valued at $147,000 after acquiring an additional 16,428 shares during the period. Royal Bank of Canada raised its holdings in Greenfire Resources by 6,363.6% during the first quarter. Royal Bank of Canada now owns 56,750 shares of the company’s stock worth $333,000 after purchasing an additional 55,872 shares in the last quarter. Beverly Hills Private Wealth LLC lifted its position in Greenfire Resources by 116.7% in the second quarter. Beverly Hills Private Wealth LLC now owns 79,902 shares of the company’s stock worth $356,000 after purchasing an additional 43,025 shares during the period. Finally, MMCAP International Inc. SPC bought a new position in Greenfire Resources during the 3rd quarter valued at $1,148,000. Institutional investors own 88.89% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on GFR shares. Weiss Ratings reissued a “sell (d)” rating on shares of Greenfire Resources in a report on Monday, December 29th. BMO Capital Markets downgraded Greenfire Resources from an “outperform” rating to a “market perform” rating in a report on Monday, September 22nd. Finally, Wall Street Zen upgraded Greenfire Resources to a “hold” rating in a research note on Saturday, November 15th. One investment analyst has rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Greenfire Resources presently 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.