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

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) saw a significant growth in short interest during the month of July. As of July 31st, there was short interest totaling 108,900 shares, agrowthof32.6% from the July 15th total of 82,100 shares. Approximately0.5% of the shares of the stock are sold short. Based on an average daily volume of 55,800 shares, the short-interest ratio is currently 2.0 days. Based on an average daily volume of 55,800 shares, the short-interest ratio is currently 2.0 days. Approximately0.5% of the shares of the stock are sold short.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in GFR. LPL Financial LLC bought a new position in shares of Greenfire Resources during the 4th quarter worth approximately $270,000. JPMorgan Chase & Co. boosted its stake in shares of Greenfire Resources by 523.8% during the 4th quarter. JPMorgan Chase & Co. now owns 24,623 shares of the company's stock worth $174,000 after acquiring an additional 20,676 shares during the period. Renaissance Technologies LLC boosted its stake in shares of Greenfire Resources by 21.9% during the 4th quarter. Renaissance Technologies LLC now owns 174,300 shares of the company's stock worth $1,231,000 after acquiring an additional 31,300 shares during the period. Jump Financial LLC bought a new position in shares of Greenfire Resources during the 4th quarter worth approximately $107,000. Finally, Marshall Wace LLP boosted its stake in shares of Greenfire Resources by 44.0% during the 4th quarter. Marshall Wace LLP now owns 75,087 shares of the company's stock worth $530,000 after acquiring an additional 22,935 shares during the period. 88.89% of the stock is currently owned by institutional investors.

Greenfire Resources Stock Up 9.6%

Greenfire Resources stock traded up $0.43 during midday trading on Friday, reaching $4.91. The stock had a trading volume of 87,411 shares, compared to its average volume of 23,351. The firm's fifty day simple moving average is $4.54 and its 200-day simple moving average is $4.93. Greenfire Resources has a 1-year low of $3.81 and a 1-year high of $8.16. The stock has a market capitalization of $341.10 million, a P/E ratio of 2.41 and a beta of 0.28. The company has a debt-to-equity ratio of 0.35, a quick ratio of 2.54 and a current ratio of 2.82.

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

Wall Street Analysts Forecast Growth

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