Greenfire Resources Ltd. (NYSE:GFR) Short Interest Down 56.3% in November

Greenfire Resources Ltd. (NYSE:GFR) was the target of a significant decline in short interest in the month of November. As of November 15th, there was short interest totalling 15,600 shares, a decline of 56.3% from the October 31st total of 35,700 shares. Currently, 0.0% of the shares of the company are sold short. Based on an average trading volume of 141,000 shares, the short-interest ratio is currently 0.1 days.

Greenfire Resources Stock Performance

GFR traded up $0.01 during midday trading on Thursday, reaching $7.23. The company had a trading volume of 32,439 shares, compared to its average volume of 72,849. Greenfire Resources has a 12-month low of $4.68 and a 12-month high of $8.16. The business has a 50-day moving average price of $7.41 and a two-hundred day moving average price of $6.94. The stock has a market cap of $502.25 million, a PE ratio of 8.41 and a beta of 0.28. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.58 and a current ratio of 0.67.

Hedge Funds Weigh In On Greenfire Resources

Several institutional investors and hedge funds have recently bought and sold shares of the company. The Manufacturers Life Insurance Company purchased a new position in shares of Greenfire Resources during the 3rd quarter valued at $82,000. Jane Street Group LLC purchased a new stake in Greenfire Resources during the third quarter valued at about $111,000. Walleye Capital LLC bought a new position in Greenfire Resources during the third quarter worth about $278,000. K2 Principal Fund L.P. increased its stake in shares of 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 purchasing an additional 29,700 shares in the last quarter. Finally, Perritt Capital Management Inc purchased a new position in shares of Greenfire Resources in the second quarter worth about $384,000. 88.89% of the stock is owned by institutional investors.

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.