Greenfire Resources Ltd. (NYSE:GFR) Short Interest Up 140.5% in May

Greenfire Resources Ltd. (NYSE:GFR) was the target of a large growth in short interest in the month of May. As of May 15th, there was short interest totaling 92,376 shares, a growth of 140.5% from the April 30th total of 38,403 shares. Based on an average daily volume of 219,692 shares, the days-to-cover ratio is presently 0.4 days. Approximately 0.1% of the company’s stock are sold short.

Institutional Trading of Greenfire Resources

A number of hedge funds and other institutional investors have recently made changes to their positions in GFR. Bank of America Corp DE boosted its holdings in Greenfire Resources by 2,709.5% during the first quarter. Bank of America Corp DE now owns 42,142 shares of the company’s stock worth $266,000 after purchasing an additional 40,642 shares during the last quarter. Renaissance Technologies LLC boosted its position in Greenfire Resources by 25.7% during the first quarter. Renaissance Technologies LLC now owns 161,262 shares of the company’s stock worth $1,019,000 after purchasing an additional 32,962 shares during the period. Moerus Capital Management LLC grew its position in shares of Greenfire Resources by 37.9% in the first quarter. Moerus Capital Management LLC now owns 2,335,804 shares of the company’s stock valued at $14,838,000 after purchasing an additional 642,312 shares during the last quarter. Walleye Capital LLC acquired a new position in shares of Greenfire Resources in the first quarter valued at approximately $378,000. Finally, Aegis Financial Corp increased its stake in shares of Greenfire Resources by 133.1% during the first quarter. Aegis Financial Corp now owns 417,548 shares of the company’s stock worth $2,639,000 after purchasing an additional 238,417 shares during the period. 88.89% of the stock is currently owned by institutional investors and hedge funds.

Greenfire Resources Stock Down 2.0%

GFR stock traded down $0.12 during trading hours on Friday, reaching $5.68. 366,456 shares of the stock were exchanged, compared to its average volume of 181,327. The firm’s 50-day moving average is $6.16 and its 200-day moving average is $5.57. Greenfire Resources has a 12 month low of $4.10 and a 12 month high of $7.02. The company has a market cap of $711.70 million, a price-to-earnings ratio of -63.05 and a beta of 0.26. The company has a debt-to-equity ratio of 0.01, a current ratio of 0.66 and a quick ratio of 0.54.

Greenfire Resources (NYSE:GFR) last posted its quarterly earnings data on Thursday, March 12th. The company reported ($0.08) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.22). The firm had revenue of $100.73 million for the quarter. Greenfire Resources had a negative return on equity of 4.20% and a negative net margin of 7.55%.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings downgraded shares of Greenfire Resources from a “sell (d+)” rating to a “sell (d)” rating in a report on Monday, May 18th. One analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company has an average rating of “Reduce”.

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.