Greenfire Resources Ltd. (NYSE:GFR) Short Interest Up 53.3% in August

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 shares are short sold. Based on an average daily volume of 82,600 shares, the days-to-cover ratio is currently 0.3 days.

Greenfire Resources Stock Down 0.9 %

GFR opened at $6.40 on Monday. The business has a 50 day moving average price of $7.05 and a 200 day moving average price of $6.35. Greenfire Resources has a twelve month low of $4.68 and a twelve month high of $9.90. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.72 and a current ratio of 0.77.

Greenfire Resources (NYSE:GFR) last posted its earnings results on Wednesday, August 14th. The company reported $0.31 earnings per share for the quarter. The company had revenue of $160.39 million during the quarter.

Analysts Set New Price Targets

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 on the stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. NewGen Asset Management Ltd bought a new position in Greenfire Resources in the second quarter valued at about $878,000. Cantor Fitzgerald L. P. bought a new position in Greenfire Resources in the fourth quarter valued at about $406,000. Brigade Capital Management LP boosted its holdings in 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 during the last quarter. Scotia Capital Inc. bought a new position in Greenfire Resources during the fourth quarter worth about $222,000. Finally, BW Gestao de Investimentos Ltda. bought a new position in Greenfire Resources during the second quarter worth about $1,120,000. 88.89% of the stock is currently owned by institutional investors and hedge funds.

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.