Short Interest in Greenfire Resources Ltd. (NYSE:GFR) Increases By 9.5%

Greenfire Resources Ltd. (NYSE:GFR) saw a significant growth in short interest during the month of June. As of June 15th, there was short interest totalling 40,300 shares, a growth of 9.5% from the May 31st total of 36,800 shares. Based on an average trading volume of 40,700 shares, the short-interest ratio is presently 1.0 days. Approximately 0.2% of the shares of the stock are short sold.

Wall Street Analysts Forecast Growth

Separately, BMO Capital Markets started coverage on shares of Greenfire Resources in a research report on Thursday, June 13th. They set an “outperform” rating and a $10.50 price target for the company.

Greenfire Resources Stock Down 2.1 %

Shares of NYSE GFR traded down $0.15 during midday trading on Wednesday, reaching $7.15. The company’s stock had a trading volume of 147,631 shares, compared to its average volume of 31,255. The stock has a 50 day simple moving average of $6.02 and a 200-day simple moving average of $5.75. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.76 and a quick ratio of 0.70. Greenfire Resources has a fifty-two week low of $4.68 and a fifty-two week high of $9.90.

Greenfire Resources (NYSE:GFR) last posted its quarterly earnings results on Wednesday, May 15th. The company reported ($0.51) earnings per share for the quarter. The business had revenue of $149.09 million during the quarter.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Cantor Fitzgerald L. P. acquired a new stake in Greenfire Resources during the fourth quarter worth about $406,000. Brigade Capital Management LP raised its position in Greenfire Resources by 13.5% during the fourth quarter. Brigade Capital Management LP now owns 5,875,560 shares of the company’s stock valued at $28,555,000 after purchasing an additional 699,520 shares in the last quarter. Scotia Capital Inc. acquired a new position in Greenfire Resources during the fourth quarter valued at approximately $222,000. Sona Asset Management US LLC lifted its stake in Greenfire Resources by 1.1% during the first quarter. Sona Asset Management US LLC now owns 5,019,641 shares of the company’s stock worth $29,992,000 after purchasing an additional 53,539 shares during the last quarter. Finally, Nokomis Capital L.L.C. acquired a new stake in shares of Greenfire Resources in the 1st quarter valued at $1,988,000. 88.89% of the stock is owned by institutional investors and hedge funds.

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.