Greenfire Resources (NYSE:GFR) Trading Down 3.2% – What’s Next?

Greenfire Resources Ltd. (NYSE:GFR) shares traded down 3.2% during mid-day trading on Thursday . The stock traded as low as $5.44 and last traded at $5.49. 37,911 shares traded hands during trading, a decline of 60% from the average session volume of 95,290 shares. The stock had previously closed at $5.67.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on GFR shares. Wall Street Zen raised shares of Greenfire Resources to a “hold” rating in a report on Saturday, November 15th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Greenfire Resources in a research note on Monday, December 29th. One analyst has rated the stock with a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Reduce”.

Greenfire Resources Stock Down 3.2%

The company has a debt-to-equity ratio of 0.36, a quick ratio of 2.05 and a current ratio of 2.27. The firm has a market capitalization of $381.39 million, a PE ratio of 4.07 and a beta of 0.29. The company has a fifty day moving average price of $4.89 and a 200-day moving average price of $4.82.

Hedge Funds Weigh In On Greenfire Resources

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Royal Bank of Canada raised its position in shares of Greenfire Resources by 6,363.6% during the 1st quarter. Royal Bank of Canada now owns 56,750 shares of the company’s stock valued at $333,000 after buying an additional 55,872 shares in the last quarter. Louisbourg Investments Inc. increased its stake in Greenfire Resources by 29.9% during the second quarter. Louisbourg Investments Inc. now owns 483,379 shares of the company’s stock worth $2,147,000 after acquiring an additional 111,400 shares during the last quarter. Beverly Hills Private Wealth LLC raised its position in Greenfire Resources by 116.7% during the second quarter. Beverly Hills Private Wealth LLC now owns 79,902 shares of the company’s stock valued at $356,000 after purchasing an additional 43,025 shares during the period. FNY Investment Advisers LLC raised its position in Greenfire Resources by 98.8% during the second quarter. FNY Investment Advisers LLC now owns 33,061 shares of the company’s stock valued at $147,000 after purchasing an additional 16,428 shares during the period. Finally, Bank of Montreal Can bought a new stake in shares of Greenfire Resources in the 2nd quarter valued at approximately $1,702,000. 88.89% of the stock is 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.