Greenfire Resources Ltd. (NYSE:GFR) Sees Significant Increase in Short Interest

Greenfire Resources Ltd. (NYSE:GFR) was the recipient of a large growth in short interest in August. As of August 31st, there was short interest totalling 23,300 shares, a growth of 53.3% from the August 15th total of 15,200 shares. Currently, 0.1% of the company’s stock are sold short. Based on an average daily volume of 82,600 shares, the short-interest ratio is currently 0.3 days.

Analyst Ratings Changes

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

Greenfire Resources Stock Down 0.9 %

Shares of GFR opened at $6.40 on Monday. 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 has a 50 day moving average price of $7.05 and a two-hundred day moving average price of $6.35. Greenfire Resources has a 52 week low of $4.68 and a 52 week high of $9.90.

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

Hedge Funds Weigh In On Greenfire Resources

Institutional investors have recently modified their holdings of the business. NewGen Asset Management Ltd bought a new position in shares of Greenfire Resources in the second quarter valued at approximately $878,000. Cantor Fitzgerald L. P. bought a new position in shares of Greenfire Resources in the fourth quarter valued at approximately $406,000. Brigade Capital Management LP grew its holdings in shares of Greenfire Resources by 13.5% in the fourth quarter. Brigade Capital Management LP now owns 5,875,560 shares of the company’s stock valued at $28,555,000 after acquiring an additional 699,520 shares in the last quarter. Scotia Capital Inc. bought a new position in shares of Greenfire Resources in the fourth quarter valued at approximately $222,000. Finally, BW Gestao de Investimentos Ltda. bought a new position in shares of Greenfire Resources in the second quarter valued at approximately $1,120,000. 88.89% of the stock is owned by institutional investors.

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.