Greenfire Resources (NYSE:GFR) Stock Price Down 2.7% – Here’s What Happened

by · The Cerbat Gem

Shares of Greenfire Resources Ltd. (NYSE:GFR – Get Free Report) fell 2.7% on Wednesday . The stock traded as low as $7.26 and last traded at $7.30. 45,574 shares were traded during mid-day trading, a decline of 31% from the average session volume of 65,729 shares. The stock had previously closed at $7.50.

Greenfire Resources Stock Performance

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 business has a 50 day moving average price of $7.27 and a 200-day moving average price of $6.70.

Greenfire Resources (NYSE:GFR – Get Free Report) last issued its earnings results on Wednesday, August 14th. The company reported $0.31 earnings per share for the quarter. The business had revenue of $160.39 million during the quarter.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. K2 Principal Fund L.P. boosted its holdings in Greenfire Resources by 146.3% in the second 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. Perritt Capital Management Inc acquired a new position in shares of Greenfire Resources during the second quarter worth approximately $384,000. Renaissance Technologies LLC bought a new position in shares of Greenfire Resources in the 2nd quarter worth $491,000. NewGen Asset Management Ltd acquired a new stake in Greenfire Resources in the 2nd quarter valued at $878,000. Finally, BW Gestao de Investimentos Ltda. bought a new stake in Greenfire Resources during the 2nd quarter valued at $1,120,000. 88.89% of the stock is owned by institutional investors.

About Greenfire Resources

(Get Free Report)

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.

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