Granite Ridge Resources Inc (NYSE: GRNT) on Friday, plunged -0.49% from the previous trading day, before settling in for the closing price of $6.12. Within the past 52 weeks, GRNT’s price has moved between $5.20 and $7.10.
Here's Your FREE Report on the #1 Small-Cap Uranium Stock of '24.
Small-cap Uranium stocks are booming in 2024! The company we're about to show you is the ONLY small-cap stock in the space that benefits from ALL aspects of the global Uranium industry with none of the risks of running a mine. Smart investors will not be hesitating on this one!
Get the FREE Report with all the details here.
Sponsored
Annual sales at Energy sector company grew by 16.88% over the past five years. The company achieved an average annual earnings per share of -35.36%. With a float of $52.05 million, this company’s outstanding shares have now reached $130.36 million.
Let’s look at the performance matrix of the company that is accounted for 2 employees. In terms of profitability, gross margin is 44.3%, operating margin of 26.51%, and the pretax margin is 18.46%.
Granite Ridge Resources Inc (GRNT) Insider Updates
Observing investor behavior towards Oil & Gas E&P industry stocks is more important than anything else. The insider ownership of Granite Ridge Resources Inc is 60.20%, while institutional ownership is 27.51%. The most recent insider transaction that took place on Sep 13 ’24, was worth 3,084. In this transaction Director of this company bought 495 shares at a rate of $6.23, taking the stock ownership to the 692,991 shares. Before that another transaction happened on Sep 12 ’24, when Company’s Director bought 5,000 for $6.13, making the entire transaction worth $30,650. This insider now owns 594,181 shares in total.
Granite Ridge Resources Inc (GRNT) Performance Highlights and Predictions
As on 6/30/2024, Multinational firm has announced its last quarter scores, in which it reported 0.21 earnings per share (EPS) for the period falling under the consensus outlook (set at 0.24) by -0.03. Wall Street market experts anticipate that the next fiscal year will bring earnings of 0.14 per share during the current fiscal year.
According to the Wall Street analysts, stocks earnings will be around -35.36% per share during the next fiscal year.
Granite Ridge Resources Inc (NYSE: GRNT) Trading Performance Indicators
Granite Ridge Resources Inc (GRNT) is currently performing well based on its current performance indicators. A quick ratio of 2.24 was reported for the most recent quarter. In addition, a publicly-traded company’s price to sales ratio for the trailing twelve months stands at 2.02.
For the trailing twelve months, Company’s Diluted EPS (Earnings per Share) is 0.43, a number that is poised to hit 0.15 in the next quarter and is forecasted to reach 0.60 in one year’s time.
Technical Analysis of Granite Ridge Resources Inc (GRNT)
Granite Ridge Resources Inc (NYSE: GRNT) saw its 5-day average volume 0.36 million, a negative change from its year-to-date volume of 0.43 million. As of the previous 9 days, the stock’s Stochastic %D was 41.52%. Additionally, its Average True Range was 0.16.
During the past 100 days, Granite Ridge Resources Inc’s (GRNT) raw stochastic average was set at 22.61%, which indicates a significant decrease from 43.48% during the past two weeks. Based on volatility metrics of the stock, it showed a historical volatility of 30.44% in the past 14 days, which was lower than the 31.94% volatility it showed in the past 100 days.
At the time of writing, stock’s 50-day Moving Average is $6.21, while its 200-day Moving Average is $6.24. Nevertheless, the first resistance level for the watch stands at $6.15 in the near term. At $6.21, the stock is likely to face the second major resistance level. The third major resistance level sits at $6.32. If the price goes on to break the first support level at $5.99, it is likely to go to the next support level at $5.88. Assuming the price breaks the second support level, the third support level stands at $5.82.
Granite Ridge Resources Inc (NYSE: GRNT) Key Stats
Market capitalization of the company is 796.21 million based on 130,744K outstanding shares. Right now, sales total 394,070 K and income totals 81,100 K. The company made 90,650 K in profit during its latest quarter, and 5,100 K in sales during its previous quarter.
