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

Greenfire Resources Ltd. (NYSE:GFR) was the target of a significant decline in short interest in the month of December. As of December 31st, there was short interest totalling 45,900 shares, a decline of 21.0% from the December 15th total of 58,100 shares. Based on an average daily trading volume, of 107,100 shares, the short-interest ratio is currently 0.4 days. Currently, 0.3% of the company’s shares are short sold.

Institutional Trading of Greenfire Resources

Large investors have recently made changes to their positions in the company. Renaissance Technologies LLC bought a new position in Greenfire Resources in the second quarter worth approximately $491,000. K2 Principal Fund L.P. raised its position in shares of Greenfire Resources by 146.3% during the second quarter. K2 Principal Fund L.P. now owns 50,003 shares of the company’s stock worth $338,000 after purchasing an additional 29,700 shares during the period. Encompass Capital Advisors LLC lifted its holdings in shares of Greenfire Resources by 21.4% in the 2nd quarter. Encompass Capital Advisors LLC now owns 4,374,312 shares of the company’s stock worth $29,527,000 after purchasing an additional 771,756 shares in the last quarter. Luxor Capital Group LP lifted its holdings in shares of Greenfire Resources by 8.9% in the 2nd quarter. Luxor Capital Group LP now owns 1,948,026 shares of the company’s stock worth $13,149,000 after purchasing an additional 159,900 shares in the last quarter. Finally, Ninepoint Partners LP acquired a new stake in Greenfire Resources in the 2nd quarter valued at $18,562,000. 88.89% of the stock is currently owned by institutional investors and hedge funds.

Greenfire Resources Trading Down 3.9 %

GFR traded down $0.29 during trading on Thursday, reaching $7.00. 82,800 shares of the stock traded hands, compared to its average volume of 78,980. Greenfire Resources has a 12 month low of $4.68 and a 12 month high of $8.16. The company has a quick ratio of 0.58, a current ratio of 0.67 and a debt-to-equity ratio of 0.30. The stock’s 50-day moving average is $7.04 and its 200 day moving average is $7.16. The stock has a market capitalization of $485.94 million, a PE ratio of 19.99 and a beta of 0.30.

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.