Granite Ridge Resources Stock Price on May 9, 2024
| GRNT Stock | USD 5.80 0.13 2.19% |
If you're considering investing in Granite Stock, it is important to understand the factors that can impact its price. As of today, the current price of Granite Ridge stands at 5.80, as last reported on the 1st of November, with the highest price reaching 5.98 and the lowest price hitting 5.79 during the day. Currently, Granite Ridge Resources is not too volatile. Granite Ridge Resources holds Efficiency (Sharpe) Ratio of 0.0148, which attests that the entity had a 0.0148% return per unit of standard deviation over the last 3 months. We have found twenty-two technical indicators for Granite Ridge Resources, which you can use to evaluate the volatility of the firm. Please check out Granite Ridge's risk adjusted performance of (0.06), and Market Risk Adjusted Performance of (0.13) to validate if the risk estimate we provide is consistent with the expected return of 0.0264%.
At this time, Granite Ridge's Other Stockholder Equity is comparatively stable compared to the past year. Capital Stock is likely to gain to about 14.8 K in 2024, whereas Liabilities And Stockholders Equity is likely to drop slightly above 494.3 M in 2024. . Price To Sales Ratio is likely to drop to 1.93 in 2024. Price Earnings Ratio is likely to drop to 9.39 in 2024. Granite Stock price history is provided at the adjusted basis, taking into account all of the recent filings.
Granite |
Sharpe Ratio = 0.0148
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Estimated Market Risk
| 1.78 actual daily | 15 85% of assets are more volatile |
Expected Return
| 0.03 actual daily | 0 Most of other assets have higher returns |
Risk-Adjusted Return
| 0.01 actual daily | 1 99% of assets perform better |
Based on monthly moving average Granite Ridge is performing at about 1% of its full potential. If added to a well diversified portfolio the total return can be enhanced and market risk can be reduced. You can increase risk-adjusted return of Granite Ridge by adding it to a well-diversified portfolio.
Price Book 1.1712 | Enterprise Value Ebitda 3.3892 | Price Sales 2.1001 | Shares Float 54.1 M | Dividend Share 0.44 |
Granite Ridge Valuation on May 9, 2024
It is possible to determine the worth of Granite Ridge on a given historical date. On May 9, 2024 Granite was worth 6.32 at the beginning of the trading date compared to the closed value of 6.36. We use multiple weighted factors in our valuation methodologies to arrive at the intrinsic value of Granite Ridge stock. Still, in general, we apply an absolute valuation method to find Granite Ridge's value based on its fundamental and technical indicators available within our service. As compared to an absolute model, our relative valuation model uses a comparative analysis of Granite Ridge where we calculate exposure to its market risk and evaluate relevant financial multiples and ratios against Granite Ridge's related companies.
| Open | High | Low | Close | Volume | |
| 6.31 | 6.36 | 6.28 | 6.32 | 286,200 | |
05/09/2024 | 6.32 | 6.39 | 6.32 | 6.36 | 329,100 |
| 6.32 | 6.45 | 6.11 | 6.13 | 435,700 |
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Granite Ridge Trading Date Momentum on May 9, 2024
| On May 10 2024 Granite Ridge Resources was traded for 6.13 at the closing time. The top price for the day was 6.45 and the lowest listed price was 6.11 . The trading volume for the day was 435.7 K. The trading history from May 10, 2024 was a factor to the next trading day price decrease. The overall trading delta against the next closing price was 3.62% . The overall trading delta against the current closing price is 1.57% . |
Granite Ridge Resources Fundamentals Correlations and Trends
By evaluating Granite Ridge's financials over time, investors can gain insight into future company performance. However, you can also analyze the published financial statements to find patterns among Granite Ridge's main balance sheet or income statement drivers and many other relevant indicators that can statistically be found significantly correlated or uncorrelated. Granite financial account trend analysis is a perfect complement when working with valuation or volatility modules.About Granite Ridge Stock history
Granite Ridge investors dedicate a lot of time and effort to gaining insight into how a market's past behavior relates to its future. Access to timely market data for Granite is vital when making an investment decision, and regardless of whether you use fundamental or technical analysis, your return on investment in Granite Ridge Resources will depend on recognizing future opportunities and eliminating past mistakes. Historical data analysis is the study of market behavior over a given time. Recorded market-related data such as price, volatility, and volume can be quantified and studied over a defined period. Through a detailed examination of a market's past behavior, traders and investors can gain perspective on the inner workings of that market. The information obtained throughout analyzing Granite Ridge stock prices may prove useful in developing a viable investing in Granite Ridge
| Last Reported | Projected for Next Year | ||
| Common Stock Shares Outstanding | 133.1 M | 126.9 M | |
| Net Income Applicable To Common Shares | 301.7 M | 316.8 M |
Granite Ridge Quarterly Net Working Capital |
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Granite Ridge Stock Technical Analysis
Granite Ridge technical stock analysis exercises models and trading practices based on price and volume transformations, such as the moving averages, relative strength index, regressions, price and return correlations, business cycles, stock market cycles, or different charting patterns.
Price Boundaries
Granite Ridge Period Price Range
Low | November 1, 2024
| High |
0.00 | 0.00 |
Granite Ridge Resources cannot be verified against its exchange. Please verify the symbol is currently traded on New York Stock Exchange. If you still believe the symbol you are trying to look up is valid, please let us know, and we will check it as soon as possible.
Granite Ridge November 1, 2024 Market Strength
Market strength indicators help investors to evaluate how Granite Ridge stock reacts to ongoing and evolving market conditions. The investors can use it to make informed decisions about market timing, and determine when trading Granite Ridge shares will generate the highest return on investment. By undertsting and applying Granite Ridge stock market strength indicators, traders can identify Granite Ridge Resources entry and exit signals to maximize returns
Granite Ridge Technical and Predictive Indicators
Predictive indicators are helping investors to find signals for Granite Ridge's price direction in advance. Along with the technical and fundamental analysis of Granite Stock historical price patterns, it is also worthwhile for investors to track various predictive indicators of Granite to make sure they correctly time the market and exploit it's hidden potentials. Even though most predictive indicators are useful for the short-term horizon, it's virtually impossible to predict the unforeseen market. For traders with a short-term horizon, predictive indicators add value when properly applied. Long-term investors, however, may find many predictive indicators less useful.
| Risk Adjusted Performance | (0.06) | |||
| Jensen Alpha | (0.22) | |||
| Total Risk Alpha | (0.25) | |||
| Treynor Ratio | (0.14) |
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Additional Tools for Granite Stock Analysis
When running Granite Ridge's price analysis, check to measure Granite Ridge's market volatility, profitability, liquidity, solvency, efficiency, growth potential, financial leverage, and other vital indicators. We have many different tools that can be utilized to determine how healthy Granite Ridge is operating at the current time. Most of Granite Ridge's value examination focuses on studying past and present price action to predict the probability of Granite Ridge's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Granite Ridge's price. Additionally, you may evaluate how the addition of Granite Ridge to your portfolios can decrease your overall portfolio volatility.