Greenfire Resources Ltd. (NYSE:GFR) Short Interest Up 112.1% in April

Key Points

• Short interest jumped 112.1% in April to 62,076 shares, but that represents only about 0.1% of shares and a short-interest ratio of just 0.2 days based on average daily volume.
• Greenfire missed quarterly EPS, reporting ($0.08) vs. a $0.14 consensus (a $0.22 shortfall) on $100.73 million of revenue; the stock recently traded near $6.11 with a market cap of roughly $765.6 million and a P/E of 12.46.
• Institutional investors own about 88.89% of the stock and the analyst consensus is a "Reduce" rating, with Weiss Ratings reaffirming a sell.

Greenfire Resources Ltd. (NYSE:GFR - Get Free Report) was the recipient of a significant growth in short interest in the month of April. As of April 15th, there was short interest totaling 62,076 shares, a growth of 112.1% from the March 31st total of 29,265 shares. Based on an average daily trading volume, of 325,067 shares, the short-interest ratio is presently 0.2 days. Approximately 0.1% of the company's shares are sold short.

Greenfire Resources Stock Performance

Shares of NYSE GFR traded up $0.13 during midday trading on Friday, hitting $6.11. 84,737 shares of the company traded hands, compared to its average volume of 240,732. Greenfire Resources has a 12-month low of $3.81 and a 12-month high of $7.02. The firm has a market cap of $765.63 million, a P/E ratio of 12.46 and a beta of 0.23. The stock has a 50-day moving average price of $6.16 and a 200 day moving average price of $5.36.

Greenfire Resources (NYSE:GFR - Get Free Report) last issued its quarterly earnings data on Thursday, March 12th. The company reported ($0.08) EPS for the quarter, missing the consensus estimate of $0.14 by ($0.22). Greenfire Resources had a return on equity of 5.03% and a net margin of 8.01%.The company had revenue of $100.73 million during the quarter.

Institutional Investors Weigh In On Greenfire Resources

Hedge funds have recently made changes to their positions in the company. Deltroit Asset Management UK LLP bought a new position in Greenfire Resources in the fourth quarter worth $48,000. Raffles Associates LP bought a new stake in shares of Greenfire Resources during the 4th quarter valued at $50,000. WINTON GROUP Ltd purchased a new stake in shares of Greenfire Resources in the 4th quarter worth about $64,000. Jane Street Group LLC purchased a new stake in shares of Greenfire Resources in the 4th quarter worth about $74,000. Finally, Turtle Creek Wealth Advisors LLC bought a new position in shares of Greenfire Resources in the 3rd quarter worth about $91,000. 88.89% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reaffirmed a "sell (d)" rating on shares of Greenfire Resources in a research note on Monday, December 29th. One equities research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus 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.

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