Greenfire Resources Ltd. (NYSE:GFR) Short Interest Down 21.0% in December

Greenfire Resources Ltd. (NYSE:GFR) saw a significant decrease in short interest during the month of December. As of December 31st, there was short interest totalling 45,900 shares, a decrease of 21.0% from the December 15th total of 58,100 shares. Approximately 0.3% of the company’s stock are sold short. Based on an average daily volume of 107,100 shares, the short-interest ratio is currently 0.4 days.

Greenfire Resources Stock Down 3.9 %

Greenfire Resources stock traded down $0.29 during midday trading on Thursday, hitting $7.00. 82,800 shares of the stock were exchanged, compared to its average volume of 78,980. Greenfire Resources has a 52-week low of $4.68 and a 52-week high of $8.16. The company has a quick ratio of 0.58, a current ratio of 0.67 and a debt-to-equity ratio of 0.30. The business’s 50-day moving average price is $7.04 and its 200-day moving average price is $7.16. The stock has a market capitalization of $485.94 million, a price-to-earnings ratio of 19.99 and a beta of 0.30.

Hedge Funds Weigh In On Greenfire Resources

Hedge funds have recently modified their holdings of the company. JPMorgan Chase & Co. purchased a new stake in shares of Greenfire Resources during the third quarter valued at approximately $29,000. The Manufacturers Life Insurance Company bought a new position in Greenfire Resources in the 3rd quarter valued at $82,000. Jane Street Group LLC bought a new position in Greenfire Resources in the 3rd quarter valued at $111,000. Walleye Capital LLC purchased a new stake in shares of Greenfire Resources during the 3rd quarter valued at $278,000. Finally, K2 Principal Fund L.P. raised its stake in shares of Greenfire Resources by 146.3% during the 2nd quarter. K2 Principal Fund L.P. now owns 50,003 shares of the company’s stock worth $338,000 after purchasing an additional 29,700 shares during the period. Institutional investors own 88.89% of the company’s stock.

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.