Greenfire Resources (NYSE:GFR) Stock Price Down 3.2% – Here’s What Happened

Greenfire Resources Ltd. (NYSE:GFR)’s stock price fell 3.2% during mid-day trading on Thursday . The company traded as low as $5.44 and last traded at $5.49. 37,911 shares traded hands during trading, a decline of 60% from the average session volume of 95,290 shares. The stock had previously closed at $5.67.

Analyst Ratings Changes

GFR has been the topic of a number of recent research reports. Wall Street Zen raised shares of Greenfire Resources to a “hold” rating in a report on Saturday, November 15th. Weiss Ratings reissued a “sell (d)” rating on shares of Greenfire Resources in a research report on Monday, December 29th. One equities research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Reduce”.

Greenfire Resources Stock Down 3.2%

The company has a market capitalization of $381.39 million, a price-to-earnings ratio of 4.07 and a beta of 0.29. The company has a current ratio of 2.27, a quick ratio of 2.05 and a debt-to-equity ratio of 0.36. The firm’s 50 day simple moving average is $4.89 and its 200-day simple moving average is $4.82.

Institutional Investors Weigh In On Greenfire Resources

A number of institutional investors have recently added to or reduced their stakes in the business. Turtle Creek Wealth Advisors LLC purchased a new stake in shares of Greenfire Resources in the third quarter valued at approximately $91,000. FNY Investment Advisers LLC lifted its stake in shares of Greenfire Resources by 98.8% in the second quarter. FNY Investment Advisers LLC now owns 33,061 shares of the company’s stock valued at $147,000 after purchasing an additional 16,428 shares during the period. Royal Bank of Canada boosted its holdings in Greenfire Resources by 6,363.6% during the first quarter. Royal Bank of Canada now owns 56,750 shares of the company’s stock worth $333,000 after buying an additional 55,872 shares in the last quarter. Beverly Hills Private Wealth LLC grew its position in Greenfire Resources by 116.7% during the second quarter. Beverly Hills Private Wealth LLC now owns 79,902 shares of the company’s stock worth $356,000 after buying an additional 43,025 shares during the period. Finally, MMCAP International Inc. SPC purchased a new position in Greenfire Resources in the third quarter valued at about $1,148,000. Hedge funds and other institutional investors own 88.89% of the company’s stock.

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. The company is headquartered in Calgary, Canada.