Granite Ridge Resources Inc [GRNT] stock is trading at $6.30, up 1.29%. It is a good measure of the stock’s recent performance to check whether the stock’s short-term value is rising or falling. The GRNT shares have gain 7.14% over the last week, with a monthly amount drifted -4.55%, and not seem to be holding up well over a long-time horizon.
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From an analyst’s perspective:
Previously, ROTH MKM started tracking the stock with Buy rating on May 15, 2024, and set its price target to $8.80. On November 07, 2023, BofA Securities initiated with a Buy rating and assigned a price target of $9 on the stock. Stephens started tracking the stock assigning a Overweight rating and suggested a price target of $8 on September 27, 2023.
Granite Ridge Resources Inc [GRNT] stock has fluctuated between $5.20 and $7.10 over the past year. Granite Ridge Resources Inc [NYSE: GRNT] shares were valued at $6.30 at the most recent close of the market.
Analyzing the GRNT fundamentals
Granite Ridge Resources Inc [NYSE:GRNT] reported sales of 394.85M for the trailing twelve months, which represents a growth of 3.53%. Gross Profit Margin for this corporation currently stands at 0.44% with Operating Profit Margin at 0.27%, Pretax Profit Margin comes in at 0.18%, and Net Profit Margin reading is 0.14%. To continue investigating profitability, this company’s Return on Assets is posted at 0.06, Equity is 0.09 and Total Capital is 0.11. Upon thorough examination of the company’s fundamental financial framework, it becomes apparent that the debt-to-equity ratio stands at 0.25.
Before buying any particular stock, readers tend to pay close attention to the indicators that support and create resistance. The company’s stock is currently sitting at 6.21 points at the first support level, and at 6.13 for the second support level. However, for the 1st resistance point, the stock is sitting at 6.41, and for the 2nd resistance point, it is at 6.53.
Ratios To Look Out For
For context, Granite Ridge Resources Inc’s Current Ratio is 2.24. Further, the Quick Ratio stands at 2.24, while the Cash Ratio is 0.2. Considering the valuation of this stock, the price to sales ratio is 2.09, the price to book ratio is 1.29 and price to earnings (TTM) ratio is 14.67.
Transactions by insiders
Recent insider trading involved Perry Griffin, Director, that happened on Sep 12 ’24 when 5000.0 shares were purchased. Chief Financial Officer, Farquharson Tyler completed a deal on Sep 11 ’24 to buy 5000.0 shares. Meanwhile, Director Miller Matthew Reade bought 8500.0 shares on Sep 11 ’24.
