Greenfire Resources Ltd. (NYSE:GFR) Short Interest Update

Greenfire Resources Ltd. (NYSE:GFR) was the target of a large growth in short interest in June. As of June 15th, there was short interest totalling 40,300 shares, a growth of 9.5% from the May 31st total of 36,800 shares. Based on an average daily trading volume, of 40,700 shares, the days-to-cover ratio is presently 1.0 days. Approximately 0.2% of the shares of the stock are sold short.

Greenfire Resources Trading Up 1.5 %

Shares of GFR opened at $6.85 on Tuesday. Greenfire Resources has a twelve month low of $4.68 and a twelve month high of $9.90. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.76 and a quick ratio of 0.70. The firm has a fifty day simple moving average of $6.00 and a two-hundred day simple moving average of $5.73.

Greenfire Resources (NYSE:GFR) last posted 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 during the quarter.

Analysts Set New Price Targets

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

Institutional Trading of Greenfire Resources

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

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.