Greenfire Resources (NYSE:GFR) Sees Large Volume Increase

Greenfire Resources Ltd. (NYSE:GFR) saw unusually-high trading volume on Thursday . Approximately 146,085 shares traded hands during mid-day trading, an increase of 140% from the previous session’s volume of 60,976 shares.The stock last traded at $7.56 and had previously closed at $7.53.

Wall Street Analysts Forecast Growth

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

Greenfire Resources Trading Up 0.5 %

The company has a debt-to-equity ratio of 0.41, a current ratio of 0.77 and a quick ratio of 0.72. The company has a 50-day moving average price of $7.05 and a 200 day moving average price of $6.56.

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

Institutional Investors Weigh In On Greenfire Resources

Several large investors have recently bought and sold shares of GFR. K2 Principal Fund L.P. lifted its holdings in shares of Greenfire Resources by 146.3% in the 2nd quarter. K2 Principal Fund L.P. now owns 50,003 shares of the company’s stock valued at $338,000 after acquiring an additional 29,700 shares during the last quarter. Scotia Capital Inc. purchased a new position in shares of Greenfire Resources in the 4th quarter worth approximately $222,000. Sona Asset Management US LLC increased its position 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 purchasing an additional 53,539 shares during the last quarter. Perritt Capital Management Inc purchased a new stake in Greenfire Resources during the 2nd quarter valued at $384,000. Finally, Renaissance Technologies LLC purchased a new stake in Greenfire Resources during the 2nd quarter valued at $491,000. Institutional investors own 88.89% of the company’s stock.

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.