Greenfire Resources (NYSE:GFR) Sees Unusually-High Trading Volume – What’s Next?

Shares of Greenfire Resources Ltd. (NYSE:GFR) saw an uptick in trading volume on Monday . 142,010 shares changed hands during trading, an increase of 107% from the previous session’s volume of 68,629 shares.The stock last traded at $7.22 and had previously closed at $7.02.

Greenfire Resources Trading Up 6.1 %

The firm’s 50-day simple moving average is $7.32 and its 200 day simple moving average is $6.76. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.72 and a current ratio of 0.77.

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

Institutional Investors Weigh In On Greenfire Resources

Institutional investors and hedge funds have recently modified their holdings of the company. Nokomis Capital L.L.C. acquired a new position in Greenfire Resources in the 1st quarter valued at about $1,988,000. Sona Asset Management US LLC grew its position in shares of Greenfire Resources by 1.1% during the 1st quarter. Sona Asset Management US LLC now owns 5,019,641 shares of the company’s stock worth $29,992,000 after purchasing an additional 53,539 shares in the last quarter. NewGen Asset Management Ltd acquired a new stake in shares of Greenfire Resources during the 2nd quarter worth approximately $878,000. BW Gestao de Investimentos Ltda. acquired a new stake in shares of Greenfire Resources during the 2nd quarter worth approximately $1,120,000. Finally, Perritt Capital Management Inc acquired a new stake in shares of Greenfire Resources during the 2nd quarter worth approximately $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.