In yesterday’s Wall Street session, Granite Ridge Resources Inc (NYSE:GRNT) shares traded at $6.55, up 0.46% from the previous session.
GRNT stock price is now 5.39% away from the 50-day moving average and 3.17% away from the 200-day moving average. The market capitalization of the company currently stands at $856.37M.
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On May 15, 2024, ROTH MKM recently initiated its ‘Buy’ rating on the stock quoting a target price of $8.80, while ‘BofA Securities’ rates the stock as ‘Buy’
In other news, Brandenberg Luke C, President and CEO bought 2,500 shares of the company’s stock on Nov 26 ’24. The stock was bought for $16,425 at an average price of $6.57. Upon completion of the transaction, the President and CEO now directly owns 99,133 shares in the company, valued at $0.65 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Nov 21 ’24, Director MCCARTNEY JOHN bought 1,000 shares of the business’s stock. A total of $6,620 was incurred on buying the stock at an average price of $6.62. This leaves the insider owning 49,839 shares of the company worth $0.33 million. A total of 59.90% of the company’s stock is owned by insiders.
During the past 12 months, Granite Ridge Resources Inc has had a low of $5.20 and a high of $7.10. As of last week, the company has a debt-to-equity ratio of 0.30, a current ratio of 1.56, and a quick ratio of 1.56. According to the stock market information, the enterprise value for the company is $1000619904, which is based on a 17.93 price-to-earnings ratio, a 2.56 price-to-earnings-growth ratio, and a beta of 0.21. The fifty day moving average price for GRNT is $6.21 and a two-hundred day moving average price translates $6.34435 for the stock.
The latest earnings results from Granite Ridge Resources Inc (NYSE: GRNT) was released for 2024-09-30. The net profit margin was 12.57% and return on equity was 7.30% for GRNT. The company reported revenue of $94.08 million for the quarter, compared to $108.4 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue fell -13.22 percent.
