Greenfire Resources Ltd. (NYSE:GFR) Short Interest Up 103.8% in November

Greenfire Resources Ltd. (NYSE:GFR) was the recipient of a significant growth in short interest in the month of November. As of November 30th, there was short interest totalling 31,800 shares, a growth of 103.8% from the November 15th total of 15,600 shares. Based on an average daily volume of 151,300 shares, the days-to-cover ratio is presently 0.2 days. Approximately 0.1% of the shares of the company are short sold.

Institutional Trading of Greenfire Resources

A number of institutional investors and hedge funds have recently made changes to their positions in GFR. Ninepoint Partners LP acquired a new position in Greenfire Resources during the second quarter worth $18,562,000. Luxor Capital Group LP lifted its stake in shares of Greenfire Resources by 45.6% in the 3rd quarter. Luxor Capital Group LP now owns 2,836,592 shares of the company’s stock valued at $21,133,000 after purchasing an additional 888,566 shares during the last quarter. Wexford Capital LP acquired a new position in shares of Greenfire Resources in the 3rd quarter valued at $5,845,000. Encompass Capital Advisors LLC lifted its stake in shares of Greenfire Resources by 21.4% in the 2nd quarter. Encompass Capital Advisors LLC now owns 4,374,312 shares of the company’s stock valued at $29,527,000 after purchasing an additional 771,756 shares during the last quarter. Finally, FMR LLC acquired a new position in shares of Greenfire Resources in the 3rd quarter valued at $3,234,000. 88.89% of the stock is currently owned by hedge funds and other institutional investors.

Greenfire Resources Stock Performance

GFR stock traded down $0.06 during trading on Friday, hitting $6.70. 85,215 shares of the company traded hands, compared to its average volume of 74,359. The stock’s 50-day simple moving average is $7.29 and its 200 day simple moving average is $7.02. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.67 and a quick ratio of 0.58. The company has a market cap of $465.45 million, a PE ratio of 19.14 and a beta of 0.29. Greenfire Resources has a 1 year low of $4.68 and a 1 year high of $8.16.

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.