Greenfire Resources Ltd. (NYSE:GFR) Sees Large Growth in Short Interest

Greenfire Resources Ltd. (NYSE:GFR) saw a significant increase in short interest during the month of March. As of March 15th, there was short interest totalling 86,400 shares, an increase of 37.1% from the February 28th total of 63,000 shares. Based on an average daily volume of 91,100 shares, the days-to-cover ratio is currently 0.9 days. Approximately 0.5% of the shares of the company are short sold.

Greenfire Resources Price Performance

Shares of GFR opened at $5.49 on Monday. The company has a market capitalization of $381.59 million, a P/E ratio of 15.69 and a beta of 0.29. The business’s 50-day moving average is $6.00 and its two-hundred day moving average is $6.78. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.58 and a current ratio of 0.67. Greenfire Resources has a fifty-two week low of $4.82 and a fifty-two week high of $8.16.

Greenfire Resources (NYSE:GFR) last announced its quarterly earnings results on Monday, March 17th. The company reported $0.78 earnings per share for the quarter. Greenfire Resources had a return on equity of 5.40% and a net margin of 5.02%. The company had revenue of $149.31 million during the quarter.

Hedge Funds Weigh In On Greenfire Resources

Several large investors have recently made changes to their positions in GFR. Luxor Capital Group LP increased its holdings in Greenfire Resources by 45.6% in the third quarter. Luxor Capital Group LP now owns 2,836,592 shares of the company’s stock valued at $21,133,000 after buying an additional 888,566 shares in the last quarter. Wexford Capital LP increased its stake in shares of Greenfire Resources by 39.2% in the 4th quarter. Wexford Capital LP now owns 1,092,071 shares of the company’s stock valued at $7,710,000 after purchasing an additional 307,456 shares in the last quarter. BW Gestao de Investimentos Ltda. raised its holdings in Greenfire Resources by 41.0% in the 4th quarter. BW Gestao de Investimentos Ltda. now owns 930,592 shares of the company’s stock worth $6,570,000 after purchasing an additional 270,773 shares during the period. FMR LLC purchased a new position in Greenfire Resources during the third quarter worth approximately $3,234,000. Finally, Webs Creek Capital Management LP boosted its position in Greenfire Resources by 255.0% during the fourth quarter. Webs Creek Capital Management LP now owns 355,000 shares of the company’s stock worth $2,506,000 after purchasing an additional 255,000 shares in the last quarter. 88.89% of the stock is currently owned by institutional investors and hedge funds.

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.