Profire Energy, Inc. (NASDAQ:PFIE) was the target of a significant decline in short interest in August. As of August 31st, there was short interest totalling 371,900 shares, a decline of 29.5% from the July 31st total of 527,700 shares. Approximately 1.1% of the shares of the stock are sold short. Based on an average daily volume of 164,400 shares, the short-interest ratio is currently 2.3 days.
Large investors have recently made changes to their positions in the company. Pacific Ridge Capital Partners LLC increased its holdings in shares of Profire Energy by 59.2% during the first quarter. Pacific Ridge Capital Partners LLC now owns 795,647 shares of the oil and gas company’s stock worth $1,424,000 after buying an additional 295,807 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Profire Energy by 3.0% during the fourth quarter. Geode Capital Management LLC now owns 309,857 shares of the oil and gas company’s stock worth $449,000 after buying an additional 9,050 shares in the last quarter. Perritt Capital Management Inc. increased its holdings in shares of Profire Energy by 1.6% during the second quarter. Perritt Capital Management Inc. now owns 1,041,791 shares of the oil and gas company’s stock worth $1,573,000 after buying an additional 16,791 shares in the last quarter. Cutter & CO Brokerage Inc. acquired a new position in shares of Profire Energy during the second quarter worth $85,000. Finally, Penn Capital Management Co. Inc. increased its holdings in shares of Profire Energy by 5.5% during the first quarter. Penn Capital Management Co. Inc. now owns 211,643 shares of the oil and gas company’s stock worth $379,000 after buying an additional 11,001 shares in the last quarter. Institutional investors own 41.21% of the company’s stock.
PFIE traded down $0.02 during trading on Friday, hitting $1.70. 84,560 shares of the stock traded hands, compared to its average volume of 166,522. Profire Energy has a twelve month low of $1.16 and a twelve month high of $3.64. The company has a market cap of $87.31 million, a price-to-earnings ratio of 14.17 and a beta of 1.61. The business has a 50 day moving average price of $1.42 and a 200 day moving average price of $1.58.
Profire Energy (NASDAQ:PFIE) last announced its quarterly earnings results on Wednesday, August 7th. The oil and gas company reported $0.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.03 by ($0.01). The company had revenue of $10.12 million for the quarter, compared to analyst estimates of $11.05 million. Profire Energy had a return on equity of 11.17% and a net margin of 11.95%. On average, analysts forecast that Profire Energy will post 0.09 EPS for the current year.
Several research analysts have commented on PFIE shares. TheStreet downgraded shares of Profire Energy from a “b-” rating to a “c+” rating in a research report on Tuesday, May 21st. Zacks Investment Research downgraded shares of Profire Energy from a “hold” rating to a “sell” rating in a research report on Friday. Aegis started coverage on shares of Profire Energy in a research report on Monday, July 8th. They set a “buy” rating and a $4.00 price objective for the company. Finally, ValuEngine downgraded shares of Profire Energy from a “sell” rating to a “strong sell” rating in a research report on Thursday, August 8th. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and two have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $3.92.
Profire Energy Company Profile
Profire Energy, Inc, an oilfield technology company, provides burner- and chemical-management products and services for the oil and gas industry in North America. It assists energy production companies in the production and transportation of oil and natural gas. Its products include PF3100, a burner-management system, which is designed to operate, monitor, control, and manage various complex and multi-faceted oilfield appliances; safety and monitoring devices, such as shut-down and temperature valves, pressure transmitters and switches, burners, pilots, and other combustion related equipment; and chemical-management systems to monitor and manage chemical-injection process to ensure that optimal levels of chemicals are injected.
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