Greenfire Resources Ltd. (NYSE:GFR) Sees Significant Increase in Short Interest

Greenfire Resources Ltd. (NYSE:GFR) was the target of a large growth in short interest in February. As of February 28th, there was short interest totalling 63,000 shares, a growth of 140.5% from the February 13th total of 26,200 shares. Based on an average daily volume of 85,800 shares, the days-to-cover ratio is currently 0.7 days. Approximately 0.3% of the shares of the company are sold short.

Institutional Trading of Greenfire Resources

Large investors have recently bought and sold shares of the business. Luxor Capital Group LP lifted its holdings in shares of Greenfire Resources by 45.6% during 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. Wexford Capital LP acquired a new stake in Greenfire Resources in the third quarter valued at approximately $5,845,000. FMR LLC bought a new stake in shares of Greenfire Resources during the third quarter valued at approximately $3,234,000. BW Gestao de Investimentos Ltda. raised its position in shares of Greenfire Resources by 41.0% during the fourth quarter. BW Gestao de Investimentos Ltda. now owns 930,592 shares of the company’s stock worth $6,570,000 after purchasing an additional 270,773 shares during the period. Finally, Webs Creek Capital Management LP grew its position in Greenfire Resources by 255.0% in the 4th quarter. Webs Creek Capital Management LP now owns 355,000 shares of the company’s stock valued at $2,506,000 after purchasing an additional 255,000 shares during the period. 88.89% of the stock is owned by institutional investors and hedge funds.

Greenfire Resources Price Performance

Shares of NYSE GFR traded down $0.15 during midday trading on Thursday, reaching $4.87. The company’s stock had a trading volume of 50,068 shares, compared to its average volume of 78,897. The company has a market cap of $337.96 million, a P/E ratio of 13.90 and a beta of 0.29. Greenfire Resources has a fifty-two week low of $4.84 and a fifty-two week high of $8.16. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.58 and a current ratio of 0.67. The business’s 50 day moving average price is $6.45 and its two-hundred day moving average price is $6.94.

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.