Greenfire Resources (NYSE:GFR) Stock Price Down 6% – Time to Sell?

Greenfire Resources Ltd. (NYSE:GFR) fell 6% on Monday . The company traded as low as $7.15 and last traded at $7.20. 112,240 shares changed hands during mid-day trading, an increase of 59% from the average session volume of 70,479 shares. The stock had previously closed at $7.66.

Greenfire Resources Price Performance

The company has a debt-to-equity ratio of 0.41, a current ratio of 0.77 and a quick ratio of 0.72. The stock’s 50 day moving average is $7.35 and its two-hundred day moving average is $6.82.

Greenfire Resources (NYSE:GFR) last posted its quarterly earnings data on Wednesday, August 14th. The company reported $0.31 EPS for the quarter. The business had revenue of $160.39 million for the quarter.

Institutional Trading of Greenfire Resources

Hedge funds have recently added to or reduced their stakes in the stock. K2 Principal Fund L.P. boosted its stake in Greenfire Resources by 146.3% in the second quarter. K2 Principal Fund L.P. now owns 50,003 shares of the company’s stock valued at $338,000 after acquiring an additional 29,700 shares during the last quarter. Sona Asset Management US LLC boosted its holdings in Greenfire Resources by 1.1% during the 1st quarter. Sona Asset Management US LLC now owns 5,019,641 shares of the company’s stock valued at $29,992,000 after acquiring an additional 53,539 shares during the period. Perritt Capital Management Inc purchased a new stake in Greenfire Resources during the 2nd quarter valued at about $384,000. Renaissance Technologies LLC bought a new position in Greenfire Resources during the 2nd quarter valued at approximately $491,000. Finally, NewGen Asset Management Ltd bought a new position in Greenfire Resources during the 2nd quarter valued at approximately $878,000. Institutional investors and hedge funds 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.