Greenfire Resources (NYSE:GFR) Sees Strong Trading Volume

Greenfire Resources Ltd. (NYSE:GFR) shares saw unusually-high trading volume on Monday . Approximately 29,004 shares were traded during mid-day trading, a decline of 47% from the previous session’s volume of 55,045 shares.The stock last traded at $7.57 and had previously closed at $7.50.

Wall Street Analysts Forecast Growth

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

Greenfire Resources Trading Up 1.9 %

The company has a current ratio of 0.77, a quick ratio of 0.72 and a debt-to-equity ratio of 0.41. The company’s fifty day simple moving average is $7.07 and its 200 day simple moving average is $6.43.

Greenfire Resources (NYSE:GFR) last posted its earnings results on Wednesday, August 14th. The company reported $0.31 earnings per share for the quarter. The company had revenue of $160.39 million for the quarter.

Hedge Funds Weigh In On Greenfire Resources

Institutional investors and hedge funds have recently bought and sold shares of the stock. NewGen Asset Management Ltd bought a new position in shares of Greenfire Resources during the second quarter valued at approximately $878,000. Cantor Fitzgerald L. P. bought a new stake in Greenfire Resources during the 4th quarter valued at approximately $406,000. Brigade Capital Management LP grew its holdings in shares of Greenfire Resources by 13.5% during the 4th quarter. Brigade Capital Management LP now owns 5,875,560 shares of the company’s stock worth $28,555,000 after acquiring an additional 699,520 shares during the period. Scotia Capital Inc. bought a new position in shares of Greenfire Resources in the 4th quarter worth approximately $222,000. Finally, BW Gestao de Investimentos Ltda. purchased a new position in shares of Greenfire Resources in the 2nd quarter valued at approximately $1,120,000. 88.89% of the stock is currently owned by 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.