Greenfire Resources Ltd. (NYSE:GFR) Short Interest Down 56.2% in July

Greenfire Resources Ltd. (NYSE:GFR) was the target of a large decline in short interest during the month of July. As of July 15th, there was short interest totalling 14,800 shares, a decline of 56.2% from the June 30th total of 33,800 shares. Based on an average trading volume of 60,000 shares, the days-to-cover ratio is presently 0.2 days. Currently, 0.1% of the shares of the stock are short sold.

Wall Street Analysts Forecast Growth

Separately, BMO Capital Markets started coverage on Greenfire Resources in a report on Thursday, June 13th. They set an “outperform” rating and a $10.50 price objective on the stock.

Institutional Investors Weigh In On Greenfire Resources

Institutional investors have recently modified their holdings of the stock. Cantor Fitzgerald L. P. purchased a new stake in Greenfire Resources in the 4th quarter worth about $406,000. Brigade Capital Management LP lifted its stake in shares of Greenfire Resources by 13.5% during the 4th quarter. Brigade Capital Management LP now owns 5,875,560 shares of the company’s stock worth $28,555,000 after purchasing an additional 699,520 shares during the last quarter. Scotia Capital Inc. bought a new stake in shares of Greenfire Resources in the 4th quarter valued at about $222,000. Sona Asset Management US LLC boosted its stake in Greenfire Resources by 1.1% in the first quarter. Sona Asset Management US LLC now owns 5,019,641 shares of the company’s stock valued at $29,992,000 after acquiring an additional 53,539 shares in the last quarter. Finally, Nokomis Capital L.L.C. purchased a new position in Greenfire Resources during the 1st quarter worth $1,988,000. 88.89% of the stock is owned by institutional investors.

Greenfire Resources Price Performance

GFR stock traded down $0.23 during trading on Friday, hitting $6.92. 82,190 shares of the company’s stock traded hands, compared to its average volume of 108,546. Greenfire Resources has a 52 week low of $4.68 and a 52 week high of $9.90. The business has a fifty day simple moving average of $6.58 and a 200 day simple moving average of $6.03. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.76 and a quick ratio of 0.70.

Greenfire Resources (NYSE:GFR) last announced its earnings results on Wednesday, May 15th. The company reported ($0.51) earnings per share (EPS) for the quarter. The firm had revenue of $149.09 million for the quarter.

About Greenfire Resources

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.