Granite Ridge Resources Inc (NYSE:GRNT) does about 515.38K shares in volume on a normal day but saw 256277 shares change hands in the recent trading day. The company now has a market cap of 788.39M USD. Its current market price is $6.03, marking an increase of 2.20% compared to the previous close of $5.90. The 52 week high reached by this stock is $7.10 whilst the lowest price level in 52 weeks is $5.20.
Granite Ridge Resources Inc (GRNT) has a 20-day trading average at $6.15 and the current price is -15.07% off the 52-week high compared with 15.96% distance from its 52-week low. The 50-day simple moving average of the closing price is $6.20 and its 200-day simple moving average is $6.35. If we look at the stock’s price movements over the week, volatility stands at 6.23%, which decreases to 3.46% over 1 month. It is also key to look at other market indicators of price movement for the stock, where we see that the relative strength index (RSI) is at 46.96 to suggest the stock is neutral.
The consensus objective for the share price is $7.76, suggesting that the stock has a potential upside of 22.29% over the period.
The company shares received a number of brokerage firm price updates over the past month, with the latest being on June 14, 2024 when BofA Securities resumed the stock to “Neutral” and issued a price target of $7. BofA Securities initiated its price target at $9.
The current price level is -1.89%, -2.75%, and -5.03% away from its SMA20, SMA50, and SMA200 respectively, with the GRNT price moving above the 50-day SMA on current market day. Granite Ridge Resources Inc (GRNT) stock is up 1.01% over the week and -11.06% over the past month. Its price is 0.17% year-to-date and -3.37% over the past year.
The company’s next earnings report forecasts estimating quarterly EPS at 0.13 and 0.52 for whole year. Expected sales for next quarter are $110.47M, which analysts say will come at $378.79M for the current fiscal year and next year at $458.12M. In addition, estimates put the company’s current quarterly revenue at an average of $104.93M.
To reach the target analysts have set, the stock logically needs to grow 22.29 percent from here.
The company has a return on investment of 5.59% and return on equity of 7.30%. The price to earnings ratio (P/E ratio) amounts to 16.51 while the forward price to earnings ratio is 10.05. The beta has a value of 0.22. Price to book ratio is 1.19 and price to sales ratio is 2.07.
