Greenfire Resources (NYSE:GFR) Shares Gap Down - Should You Sell?

Key Points

• Greenfire Resources shares fell sharply: The stock gapped down from a previous close of $6.94 to open at $6.03, later trading near $6.12, with shares down about 9%.
• Analyst views are mixed but lean positive: Ratings range from Strong Buy to Sell, while the consensus rating is “Moderate Buy” with an $11.50 target price—well above the recent trading level.
• Quarterly results exceeded expectations: Greenfire reported $0.31 in earnings per share versus the $0.01 consensus estimate and revenue of $123.86 million versus expectations of $107.41 million. Institutional investors own approximately 88.89% of the company.

Greenfire Resources Ltd. (NYSE:GFR - Get Free Report)'s share price gapped down prior to trading on Monday . The stock had previously closed at $6.94, but opened at $6.03. Greenfire Resources shares last traded at $6.1210, with a volume of 50,038 shares changing hands.

Wall Street Analyst Weigh In

GFR has been the topic of several research reports. TD Securities raised Greenfire Resources to a "strong-buy" rating in a report on Thursday, July 23rd. Weiss Ratings reissued a "sell (d)" rating on shares of Greenfire Resources in a research note on Thursday. Royal Bank Of Canada began coverage on Greenfire Resources in a research note on Monday, July 6th. They issued a "hold" rating for the company. Finally, BMO Capital Markets upgraded Greenfire Resources from a "market perform" rating to an "outperform" rating and set a $11.50 target price for the company in a research report on Wednesday, August 5th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, one has given a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $11.50.

Greenfire Resources Stock Down 9.0%

The firm's 50 day moving average price is $5.99 and its 200-day moving average price is $6.02. The company has a current ratio of 0.96, a quick ratio of 0.76 and a debt-to-equity ratio of 0.03. The company has a market cap of $791.96 million, a P/E ratio of -22.54 and a beta of 0.19.

Greenfire Resources (NYSE:GFR - Get Free Report) last posted its quarterly earnings results on Wednesday, August 5th. The company reported $0.31 earnings per share for the quarter, topping analysts' consensus estimates of $0.01 by $0.30. Greenfire Resources had a negative net margin of 6.36% and a negative return on equity of 3.50%. The business had revenue of $123.86 million during the quarter, compared to the consensus estimate of $107.41 million.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Militia Capital Management LLC acquired a new position in shares of Greenfire Resources during the 1st quarter worth about $1,637,000. Moerus Capital Management LLC increased its stake in shares of Greenfire Resources by 37.9% in the 1st quarter. Moerus Capital Management LLC now owns 2,335,804 shares of the company's stock valued at $14,838,000 after acquiring an additional 642,312 shares during the last quarter. Saber Capital Managment LLC acquired a new stake in shares of Greenfire Resources in the 4th quarter valued at approximately $3,270,000. Aegis Financial Corp raised its position in shares of Greenfire Resources by 133.1% in the 1st quarter. Aegis Financial Corp now owns 417,548 shares of the company's stock valued at $2,639,000 after acquiring an additional 238,417 shares during the period. Finally, K2 Principal Fund L.P. boosted its stake in Greenfire Resources by 88.8% during the 4th quarter. K2 Principal Fund L.P. now owns 845,285 shares of the company's stock worth $4,024,000 after acquiring an additional 397,685 shares during the last quarter. Institutional investors and hedge funds own 88.89% of the company's stock.

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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