Greenfire Resources Ltd. (NYSE:GFR) Short Interest Update

Greenfire Resources Ltd. (NYSE:GFR) was the target of a large increase in short interest in the month of November. As of November 30th, there was short interest totalling 31,800 shares, an increase of 103.8% from the November 15th total of 15,600 shares. Approximately 0.1% of the shares of the company are sold short. Based on an average daily volume of 151,300 shares, the days-to-cover ratio is presently 0.2 days.

Greenfire Resources Stock Performance

GFR stock traded down $0.06 during midday trading on Friday, reaching $6.70. 85,215 shares of the company’s stock traded hands, compared to its average volume of 74,359. The company has a current ratio of 0.67, a quick ratio of 0.58 and a debt-to-equity ratio of 0.30. Greenfire Resources has a 52-week low of $4.68 and a 52-week high of $8.16. The stock has a market cap of $465.45 million, a P/E ratio of 19.14 and a beta of 0.29. The stock’s 50-day moving average is $7.29 and its 200 day moving average is $7.02.

Hedge Funds Weigh In On Greenfire Resources

Institutional investors have recently bought and sold shares of the stock. The Manufacturers Life Insurance Company purchased a new stake in Greenfire Resources in the third quarter worth about $82,000. Jane Street Group LLC bought a new position in shares of Greenfire Resources during the 3rd quarter valued at approximately $111,000. K2 Principal Fund L.P. increased its holdings in Greenfire Resources by 146.3% in the 2nd quarter. K2 Principal Fund L.P. now owns 50,003 shares of the company’s stock worth $338,000 after acquiring an additional 29,700 shares in the last quarter. Walleye Capital LLC bought a new stake in Greenfire Resources during the 3rd quarter worth approximately $278,000. Finally, Perritt Capital Management Inc purchased a new position in Greenfire Resources during the second quarter valued at approximately $384,000. 88.89% of the stock is 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.