Perritt Capital Management Inc Takes $384,000 Position in Greenfire Resources Ltd. (NYSE:GFR)

Perritt Capital Management Inc purchased a new position in shares of Greenfire Resources Ltd. (NYSE:GFR) during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 56,850 shares of the company’s stock, valued at approximately $384,000. Perritt Capital Management Inc owned approximately 0.08% of Greenfire Resources as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. BW Gestao de Investimentos Ltda. acquired a new stake in shares of Greenfire Resources in the second quarter valued at approximately $1,120,000. NewGen Asset Management Ltd acquired a new stake in shares of Greenfire Resources in the 2nd quarter valued at $878,000. Sona Asset Management US LLC raised its position in shares of Greenfire Resources by 1.1% during the first quarter. Sona Asset Management US LLC now owns 5,019,641 shares of the company’s stock worth $29,992,000 after acquiring an additional 53,539 shares during the last quarter. Nokomis Capital L.L.C. acquired a new position in shares of Greenfire Resources during the first quarter valued at $1,988,000. Finally, Cantor Fitzgerald L. P. bought a new position in Greenfire Resources in the fourth quarter valued at about $406,000. Institutional investors own 88.89% of the company’s stock.

Greenfire Resources Stock Performance

GFR opened at $6.40 on Thursday. Greenfire Resources Ltd. has a 52 week low of $4.68 and a 52 week high of $9.90. The company has a fifty day moving average price of $7.08 and a two-hundred day moving average price of $6.32. The company has a quick ratio of 0.72, a current ratio of 0.77 and a debt-to-equity ratio of 0.41.

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

Wall Street Analyst Weigh In

Separately, BMO Capital Markets assumed coverage on shares of Greenfire Resources in a research report on Thursday, June 13th. They set an “outperform” rating and a $10.50 target price on the 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.