Greenfire Resources (NYSE:GFR) Stock Price Down 6% – What’s Next?

by · The Markets Daily

Greenfire Resources Ltd. (NYSE:GFR – Get Free Report) was down 6% on Monday . The stock traded as low as $7.15 and last traded at $7.20. Approximately 112,240 shares changed hands during trading, an increase of 59% from the average daily volume of 70,479 shares. The stock had previously closed at $7.66.

Greenfire Resources Price Performance

The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.72 and a current ratio of 0.77. The company’s fifty day moving average price is $7.35 and its two-hundred day moving average price is $6.82.

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

Hedge Funds Weigh In On Greenfire Resources

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. K2 Principal Fund L.P. increased its position 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 buying an additional 29,700 shares in the last quarter. Perritt Capital Management Inc bought a new stake in shares of Greenfire Resources in the 2nd quarter valued at $384,000. Renaissance Technologies LLC bought a new stake in shares of Greenfire Resources in the 2nd quarter valued at $491,000. NewGen Asset Management Ltd bought a new stake in shares of Greenfire Resources in the 2nd quarter valued at $878,000. Finally, BW Gestao de Investimentos Ltda. bought a new stake in shares of Greenfire Resources in the 2nd quarter valued at $1,120,000. 88.89% of the stock is owned by institutional investors.

Greenfire Resources Company Profile

(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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