Granite Ridge Resources Inc (NYSE: GRNT) has a higher price-to-earnings ratio of 17.66x compared to its average ratio. GRNT has 36-month beta value of 0.19. Analysts have mixed views on the stock, with 2 analysts rating it as a “buy,” 1 as “overweight,” 2 as “hold,” and 0 as “sell.”
The public float for GRNT is 52.05M, and currently, short sellers hold a 4.94% ratio of that float. The average trading volume of GRNT on November 08, 2024 was 375.06K shares.
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GRNT) stock’s latest price update
The stock of Granite Ridge Resources Inc (NYSE: GRNT) has increased by 1.91 when compared to last closing price of 6.34. Despite this, the company has experienced a 11.39% gain in its stock price over the last five trading sessions. zacks.com reported 2024-11-07 that Granite Ridge Resources, Inc. (GRNT) came out with quarterly earnings of $0.14 per share, beating the Zacks Consensus Estimate of $0.13 per share. This compares to earnings of $0.21 per share a year ago.
GRNT’s Market Performance
Granite Ridge Resources Inc (GRNT) has seen a 11.39% rise in stock performance for the week, with a 4.88% gain in the past month and a 2.72% surge in the past quarter. The volatility ratio for the week is 2.73%, and the volatility levels for the past 30 days are at 2.23% for GRNT. The simple moving average for the past 20 days is 7.02% for GRNT’s stock, with a 2.88% simple moving average for the past 200 days.
Analysts’ Opinion of GRNT
Many brokerage firms have already submitted their reports for GRNT stocks, with BofA Securities repeating the rating for GRNT by listing it as a “Neutral.” The predicted price for GRNT in the upcoming period, according to BofA Securities is $7 based on the research report published on June 14, 2024 of the current year 2024.
ROTH MKM, on the other hand, stated in their research note that they expect to see GRNT reach a price target of $8.80. The rating they have provided for GRNT stocks is “Buy” according to the report published on May 15th, 2024.
BofA Securities gave a rating of “Buy” to GRNT, setting the target price at $9 in the report published on November 07th of the previous year.
GRNT Trading at 6.04% from the 50-Day Moving Average
After a stumble in the market that brought GRNT to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -9.00% of loss for the given period.
Volatility was left at 2.23%, however, over the last 30 days, the volatility rate increased by 2.73%, as shares surge +4.74% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +0.23% upper at present.
During the last 5 trading sessions, GRNT rose by +11.81%, which changed the moving average for the period of 200-days by +17.60% in comparison to the 20-day moving average, which settled at $6.04. In addition, Granite Ridge Resources Inc saw 7.32% in overturn over a single year, with a tendency to cut further gains.
Insider Trading
Reports are indicating that there were more than several insider trading activities at GRNT starting from Miller Matthew Reade, who purchase 495 shares at the price of $6.23 back on Sep 13 ’24. After this action, Miller Matthew Reade now owns 692,991 shares of Granite Ridge Resources Inc, valued at $3,084 using the latest closing price.
Perry Griffin, the Director of Granite Ridge Resources Inc, purchase 5,000 shares at $6.13 during a trade that took place back on Sep 12 ’24, which means that Perry Griffin is holding 594,181 shares at $30,650 based on the most recent closing price.
Stock Fundamentals for GRNT
Current profitability levels for the company are sitting at:
- 0.25 for the present operating margin
- 0.47 for the gross margin
The net margin for Granite Ridge Resources Inc stands at 0.13. The total capital return value is set at -1.21. Equity return is now at value 7.31, with 4.89 for asset returns.
Based on Granite Ridge Resources Inc (GRNT), the company’s capital structure generated 0.23 points at debt to capital in total, while cash flow to debt ratio is standing at 2.21. The debt to equity ratio resting at 0.3. The interest coverage ratio of the stock is 14.74.
Currently, EBITDA for the company is 277.92 million with net debt to EBITDA at 0.76. When we switch over and look at the enterprise to sales, we see a ratio of 2.67. The liquidity ratio also appears to be rather interesting for investors as it stands at 1.56.
Conclusion
To put it simply, Granite Ridge Resources Inc (GRNT) has had a better performance in recent times. Analysts have a mixed opinion on the stock, with some rating it as a “buy” and others as a “hold”. It is worth mentioning that the stock is currently trading in close proximity to its 50-day moving average and its 52-week high.
