In the past week, GRNT stock has gone down by -0.30%, with a monthly gain of 11.66% and a quarterly surge of 1.69%. The volatility ratio for the week is 3.37%, and the volatility levels for the last 30 days are 2.66% for Granite Ridge Resources Inc The simple moving average for the last 20 days is 5.13% for GRNT stock, with a simple moving average of 4.44% for the last 200 days.
Is It Worth Investing in Granite Ridge Resources Inc (NYSE: GRNT) Right Now?
Granite Ridge Resources Inc (NYSE: GRNT) has a higher price-to-earnings ratio of 18.09x 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.”
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The public float for GRNT is 52.47M, and currently, short sellers hold a 4.93% ratio of that float. The average trading volume of GRNT on November 22, 2024 was 421.15K shares.
GRNT) stock’s latest price update
The stock of Granite Ridge Resources Inc (NYSE: GRNT) has increased by 1.38 when compared to last closing price of 6.52. Despite this, the company has experienced a -0.30% fall in its stock price over the last five trading sessions. seekingalpha.com reported 2024-11-15 that Granite Ridge expects mid-teens total production growth in 2025. This may include 20+% oil production growth. I expect Granite Ridge’s 2025 capex to be lower than 2024 since much of the 2025 growth is driven by late 2024 spending.
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 6.86% 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 -6.90% of loss for the given period.
Volatility was left at 2.66%, however, over the last 30 days, the volatility rate increased by 3.37%, as shares surge +11.09% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +7.83% upper at present.
During the last 5 trading sessions, GRNT fell by -0.30%, which changed the moving average for the period of 200-days by +20.18% in comparison to the 20-day moving average, which settled at $6.29. In addition, Granite Ridge Resources Inc saw 9.80% 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 20,327 shares at the price of $6.60 back on Nov 21 ’24. After this action, Miller Matthew Reade now owns 731,491 shares of Granite Ridge Resources Inc, valued at $134,158 using the latest closing price.
Miller Matthew Reade, the Director of Granite Ridge Resources Inc, purchase 18,173 shares at $6.49 during a trade that took place back on Nov 20 ’24, which means that Miller Matthew Reade is holding 711,164 shares at $117,943 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 0.1. Equity return is now at value 7.30, 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 5.97.
Currently, EBITDA for the company is 271.56 million with net debt to EBITDA at 0.68. When we switch over and look at the enterprise to sales, we see a ratio of 2.72. The receivables turnover for the company is 6.5for trailing twelve months and the total asset turnover is 0.37. 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.
