Greenfire Resources Ltd. (NYSE:GFR) Sees Large Growth in Short Interest

Greenfire Resources Ltd. (NYSE:GFR) was the recipient of a significant growth in short interest during the month of 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. Currently, 0.3% of the company’s stock are short sold.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. JPMorgan Chase & Co. purchased a new stake in Greenfire Resources during the third quarter valued at $29,000. Northwest & Ethical Investments L.P. purchased a new stake in Greenfire Resources during the fourth quarter valued at $45,000. The Manufacturers Life Insurance Company purchased a new stake in Greenfire Resources during the third quarter valued at $82,000. Cubist Systematic Strategies LLC purchased a new stake in Greenfire Resources during the fourth quarter valued at $100,000. Finally, Jump Financial LLC purchased a new stake in Greenfire Resources during the fourth quarter valued at $107,000. Hedge funds and other institutional investors own 88.89% of the company’s stock.

Greenfire Resources Stock Up 2.0 %

Shares of GFR stock traded up $0.10 during mid-day trading on Friday, hitting $4.94. The company’s stock had a trading volume of 97,024 shares, compared to its average volume of 88,881. Greenfire Resources has a 52-week low of $4.82 and a 52-week high of $8.16. The business has a 50-day moving average price of $6.36 and a 200 day moving average price of $6.90. 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 stock has a market cap of $342.82 million, a price-to-earnings ratio of 14.10 and a beta of 0.29.

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.