Greenfire Resources (NYSE:GFR) Stock Price Up 2.5% - What's Next?

Key Points

• Shares of Greenfire Resources rose 2.5% intraday to $6.2450 (high of $6.30) on roughly 424,981 shares traded, about 70% above average volume.
• The company reported Q results showing ($0.08) EPS versus a $0.14 consensus (a $0.22 miss) on $100.73 million in revenue, and it has a market cap of $433.84 million with a PE of 12.75.
• Analysts' consensus is a "Reduce" rating (Weiss reiterated a Sell), while institutional investors own 88.89% of the stock and Renaissance Technologies recently increased its position.

Shares of Greenfire Resources Ltd. (NYSE:GFR - Get Free Report) rose 2.5% during mid-day trading on Thursday . The company traded as high as $6.30 and last traded at $6.2450. Approximately 424,981 shares changed hands during trading, an increase of 70% from the average daily volume of 249,824 shares. The stock had previously closed at $6.09.

Analyst Ratings Changes

Separately, Weiss Ratings reiterated a "sell (d)" rating on shares of Greenfire Resources in a research report on Monday, December 29th. One equities research analyst has rated the stock with a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Greenfire Resources presently has an average rating of "Reduce".

Greenfire Resources Stock Up 2.5%

The company has a market cap of $433.84 million, a PE ratio of 12.75 and a beta of 0.23. The business has a 50-day simple moving average of $6.15 and a 200-day simple moving average of $5.30.

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

Hedge Funds Weigh In On Greenfire Resources

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Deltroit Asset Management UK LLP purchased a new position in shares of Greenfire Resources in the fourth quarter valued at approximately $48,000. Raffles Associates LP purchased a new position in shares of Greenfire Resources in the fourth quarter valued at approximately $50,000. WINTON GROUP Ltd purchased a new position in shares of Greenfire Resources in the fourth quarter valued at approximately $64,000. Jane Street Group LLC purchased a new position in shares of Greenfire Resources in the fourth quarter valued at approximately $74,000. Finally, Renaissance Technologies LLC lifted its position in shares of Greenfire Resources by 15.9% in the fourth quarter. Renaissance Technologies LLC now owns 128,300 shares of the company's stock valued at $611,000 after acquiring an additional 17,600 shares in the last quarter. Hedge funds and other institutional investors 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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