Short Interest in Greenfire Resources Ltd. (NYSE:GFR) Grows By 32.6%

Key Points

• Greenfire Resources Ltd. reported a significant increase in short interest, rising by 32.6% in July to a total of 108,900 shares.
• The company achieved an earnings per share (EPS) of $0.50 for the quarter, surpassing analysts' expectations of $0.31.
• Institutional investors hold approximately 88.89% of the company's stock, with notable increases in stakes from several major investors in recent quarters.

Greenfire Resources Ltd. (NYSE:GFR - Get Free Report) was the recipient of a large increase in short interest during the month of July. As of July 31st, there was short interest totaling 108,900 shares, anincreaseof32.6% from the July 15th total of 82,100 shares. Approximately0.5% of the shares of the stock are short sold. Based on an average daily trading volume, of 55,800 shares, the days-to-cover ratio is currently 2.0 days. Based on an average daily trading volume, of 55,800 shares, the days-to-cover ratio is currently 2.0 days. Approximately0.5% of the shares of the stock are short sold.

Greenfire Resources Trading Up 9.6%

Shares of GFR stock traded up $0.43 during mid-day trading on Friday, hitting $4.91. 87,411 shares of the company's stock were exchanged, compared to its average volume of 26,365. Greenfire Resources has a fifty-two week low of $3.81 and a fifty-two week high of $8.16. The stock has a 50-day simple moving average of $4.54 and a two-hundred day simple moving average of $4.91. The company has a quick ratio of 2.54, a current ratio of 2.82 and a debt-to-equity ratio of 0.35. The stock has a market cap of $341.10 million, a price-to-earnings ratio of 2.41 and a beta of 0.28.

Greenfire Resources (NYSE:GFR - Get Free Report) last posted its quarterly earnings data on Wednesday, August 13th. The company reported $0.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.31 by $0.19. Greenfire Resources had a return on equity of 24.62% and a net margin of 28.61%.

Institutional Investors Weigh In On Greenfire Resources

Hedge funds have recently made changes to their positions in the business. FNY Investment Advisers LLC raised its position in shares of Greenfire Resources by 66.3% in the 1st quarter. FNY Investment Advisers LLC now owns 16,633 shares of the company's stock worth $97,000 after buying an additional 6,633 shares during the period. Cubist Systematic Strategies LLC purchased a new position in shares of Greenfire Resources in the 4th quarter worth $100,000. XTX Topco Ltd purchased a new position in shares of Greenfire Resources in the 1st quarter worth $103,000. Jump Financial LLC purchased a new position in shares of Greenfire Resources in the 4th quarter worth $107,000. Finally, Dimensional Fund Advisors LP purchased a new position in shares of Greenfire Resources in the 4th quarter worth $138,000. Institutional investors and hedge funds own 88.89% of the company's stock.

Analysts Set New Price Targets

Separately, BMO Capital Markets reiterated an "outperform" rating on shares of Greenfire Resources in a report on Wednesday, May 7th. One analyst has rated the stock with a Buy rating, According to MarketBeat.com, the stock presently has a consensus rating of "Buy".

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.