Short Interest in Greenfire Resources Ltd. (NYSE:GFR) Rises By 37.1%

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

Hedge Funds Weigh In On Greenfire Resources

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Louisbourg Investments Inc. bought a new stake in shares of Greenfire Resources in the 4th quarter worth approximately $1,787,000. Luxor Capital Group LP lifted its position 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 worth $21,133,000 after purchasing an additional 888,566 shares during the period. FMR LLC acquired a new stake in Greenfire Resources during the third quarter worth $3,234,000. Jane Street Group LLC bought a new stake in Greenfire Resources in the 3rd quarter valued at $111,000. Finally, Hillsdale Investment Management Inc. acquired a new position in shares of Greenfire Resources in the 4th quarter valued at $1,155,000. 88.89% of the stock is currently owned by institutional investors.

Greenfire Resources Stock Up 1.9 %

Shares of GFR stock opened at $5.98 on Wednesday. Greenfire Resources has a 12 month low of $4.82 and a 12 month high of $8.16. The company has a quick ratio of 0.58, a current ratio of 0.67 and a debt-to-equity ratio of 0.30. The firm has a market cap of $415.42 million, a PE ratio of 17.09 and a beta of 0.29. The stock has a 50 day moving average of $5.96 and a 200-day moving average of $6.77.

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