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

Greenfire Resources Ltd. (NYSE:GFR) was the recipient of a significant decline in short interest in the month of April. As of April 30th, there was short interest totaling 38,403 shares, a decline of 38.1% from the April 15th total of 62,076 shares. Based on an average daily volume of 266,917 shares, the days-to-cover ratio is presently 0.1 days. Currently, 0.0% of the company’s shares are sold short.

Greenfire Resources Trading Up 2.9%

NYSE:GFR traded up $0.18 during trading hours on Friday, reaching $6.19. 89,975 shares of the company were exchanged, compared to its average volume of 241,887. The firm has a market cap of $775.77 million, a price-to-earnings ratio of -68.73 and a beta of 0.26. The stock has a 50 day simple moving average of $6.22 and a 200 day simple moving average of $5.48. Greenfire Resources has a 52-week low of $4.10 and a 52-week high of $7.02. The company has a debt-to-equity ratio of 0.01, a current ratio of 0.66 and a quick ratio of 0.54.

Greenfire Resources (NYSE:GFR) last announced its quarterly earnings data on Thursday, March 12th. The company reported ($0.08) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.14 by ($0.22). The company had revenue of $100.73 million for the quarter. Greenfire Resources had a negative net margin of 7.55% and a negative return on equity of 4.20%.

Hedge Funds Weigh In On Greenfire Resources

A number of large investors have recently modified their holdings of GFR. MMCAP International Inc. SPC acquired a new position in Greenfire Resources during the third quarter valued at approximately $1,148,000. WINTON GROUP Ltd acquired a new stake in shares of Greenfire Resources in the fourth quarter worth $64,000. Raffles Associates LP purchased a new position in shares of Greenfire Resources in the 4th quarter valued at $50,000. Walleye Capital LLC acquired a new position in shares of Greenfire Resources during the 1st quarter valued at $378,000. Finally, Moerus Capital Management LLC lifted its holdings in shares of Greenfire Resources by 37.9% during the 1st quarter. Moerus Capital Management LLC now owns 2,335,804 shares of the company’s stock valued at $14,838,000 after acquiring an additional 642,312 shares in the last quarter. 88.89% of the stock is currently owned by hedge funds and other institutional investors.

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.