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

Greenfire Resources Ltd. (NYSE:GFR) saw a significant decline in short interest in November. As of November 15th, there was short interest totalling 15,600 shares, a decline of 56.3% from the October 31st total of 35,700 shares. Approximately 0.0% of the shares of the stock are short sold. Based on an average trading volume of 141,000 shares, the short-interest ratio is currently 0.1 days.

Institutional Investors Weigh In On Greenfire Resources

A number of institutional investors and hedge funds have recently made changes to their positions in GFR. NewGen Asset Management Ltd bought a new position in shares of Greenfire Resources in the second quarter worth approximately $878,000. BW Gestao de Investimentos Ltda. purchased a new position in Greenfire Resources in the 2nd quarter worth approximately $1,120,000. Perritt Capital Management Inc bought a new position in shares of Greenfire Resources in the 2nd quarter worth $384,000. Renaissance Technologies LLC purchased a new stake in shares of Greenfire Resources during the 2nd quarter valued at $491,000. Finally, K2 Principal Fund L.P. lifted its holdings in shares of Greenfire Resources by 146.3% during the 2nd quarter. K2 Principal Fund L.P. now owns 50,003 shares of the company’s stock worth $338,000 after acquiring an additional 29,700 shares during the last quarter. Hedge funds and other institutional investors own 88.89% of the company’s stock.

Greenfire Resources Price Performance

NYSE GFR traded up $0.01 on Thursday, hitting $7.23. The stock had a trading volume of 32,439 shares, compared to its average volume of 72,849. The firm has a 50-day moving average of $7.41 and a 200-day moving average of $6.94. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.58 and a current ratio of 0.67. Greenfire Resources has a 52-week low of $4.68 and a 52-week high of $8.16. The company has a market capitalization of $502.25 million, a price-to-earnings ratio of 8.41 and a beta of 0.28.

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.