Greenfire Resources Ltd. (NYSE:GFR) Short Interest Down 56.2% in July

Greenfire Resources Ltd. (NYSE:GFR) saw a large decline in short interest in the month of July. As of July 15th, there was short interest totalling 14,800 shares, a decline of 56.2% from the June 30th total of 33,800 shares. Based on an average daily volume of 60,000 shares, the days-to-cover ratio is presently 0.2 days. Currently, 0.1% of the company’s shares are short sold.

Wall Street Analysts Forecast Growth

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

Institutional Trading of Greenfire Resources

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Scotia Capital Inc. acquired a new stake in Greenfire Resources in the fourth quarter valued at approximately $222,000. Brigade Capital Management LP grew its position in Greenfire Resources by 13.5% in the 4th 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 during the period. Cantor Fitzgerald L. P. acquired a new stake in Greenfire Resources in the 4th quarter valued at $406,000. Nokomis Capital L.L.C. bought a new stake in Greenfire Resources during the 1st quarter valued at $1,988,000. Finally, Sona Asset Management US LLC raised its holdings 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 buying an additional 53,539 shares during the last quarter. 88.89% of the stock is owned by institutional investors.

Greenfire Resources Price Performance

Shares of NYSE:GFR traded down $0.23 during mid-day trading on Friday, hitting $6.92. The company had a trading volume of 82,190 shares, compared to its average volume of 108,546. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.70 and a current ratio of 0.76. Greenfire Resources has a one year low of $4.68 and a one year high of $9.90. The firm has a fifty day moving average price of $6.58 and a 200 day moving average price of $6.03.

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

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.