Greenfire Resources Ltd. (NYSE:GFR) Short Interest Down 54.6% in March

Greenfire Resources Ltd. (NYSE:GFR) was the target of a significant decrease in short interest in March. As of March 13th, there was short interest totaling 29,013 shares, a decrease of 54.6% from the February 26th total of 63,932 shares. Currently, 0.1% of the company’s stock are short sold. Based on an average daily volume of 227,097 shares, the days-to-cover ratio is presently 0.1 days.

Wall Street Analyst Weigh In

Separately, Weiss Ratings restated a “sell (d)” rating on shares of Greenfire Resources in a report on Monday, December 29th. One analyst has rated the stock with a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Reduce”.

Greenfire Resources Trading Down 0.1%

GFR traded down $0.00 during trading on Thursday, hitting $6.45. 85,318 shares of the company’s stock traded hands, compared to its average volume of 123,679. The stock has a market capitalization of $447.80 million, a price-to-earnings ratio of 13.16 and a beta of 0.27. The company’s 50 day simple moving average is $5.86 and its two-hundred day simple moving average is $5.15. Greenfire Resources has a 12-month low of $3.81 and a 12-month high of $7.02.

Greenfire Resources (NYSE:GFR) last posted its quarterly earnings results on Thursday, March 12th. The company reported ($0.08) earnings per share for the quarter, missing the consensus estimate of $0.14 by ($0.22). The business had revenue of $100.73 million during the quarter. Greenfire Resources had a return on equity of 5.03% and a net margin of 8.01%.

Hedge Funds Weigh In On Greenfire Resources

Hedge funds have recently bought and sold shares of the business. Encompass Capital Advisors LLC boosted its holdings in shares of Greenfire Resources by 3.0% during the 2nd quarter. Encompass Capital Advisors LLC now owns 4,947,437 shares of the company’s stock valued at $22,066,000 after acquiring an additional 143,933 shares during the last quarter. BW Gestao de Investimentos Ltda. raised its holdings in shares of Greenfire Resources by 95.8% during the second quarter. BW Gestao de Investimentos Ltda. now owns 3,296,823 shares of the company’s stock valued at $14,704,000 after purchasing an additional 1,613,198 shares during the last quarter. Moerus Capital Management LLC purchased a new position in shares of Greenfire Resources during the fourth quarter valued at approximately $8,082,000. Bank of Montreal Can lifted its position in Greenfire Resources by 165.8% during the fourth quarter. Bank of Montreal Can now owns 1,012,920 shares of the company’s stock valued at $4,821,000 after purchasing an additional 631,848 shares during the period. Finally, K2 Principal Fund L.P. lifted its position in Greenfire Resources by 88.8% during the fourth quarter. K2 Principal Fund L.P. now owns 845,285 shares of the company’s stock valued at $4,024,000 after purchasing an additional 397,685 shares during the period. 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.