Profire Energy, Inc. (NASDAQ:PFIE) was the recipient of a significant decline in short interest during the month of 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. Currently, 1.1% of the company’s shares are short sold. Based on an average daily volume of 164,400 shares, the days-to-cover ratio is currently 2.3 days.

Several institutional investors have recently made changes to their positions in PFIE. River & Mercantile Asset Management LLP bought a new position in shares of Profire Energy during the second quarter valued at approximately $927,000. Foundry Partners LLC raised its holdings in shares of Profire Energy by 179.6% during the second quarter. Foundry Partners LLC now owns 706,225 shares of the oil and gas company’s stock valued at $1,066,000 after acquiring an additional 453,625 shares in the last quarter. FMR LLC raised its holdings in shares of Profire Energy by 27.5% during the first quarter. FMR LLC now owns 2,011,596 shares of the oil and gas company’s stock valued at $3,601,000 after acquiring an additional 433,698 shares in the last quarter. Pacific Ridge Capital Partners LLC grew its stake in Profire Energy by 59.2% in 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 purchasing an additional 295,807 shares during the period. Finally, Deutsche Bank AG grew its stake in Profire Energy by 397.3% in the fourth quarter. Deutsche Bank AG now owns 240,586 shares of the oil and gas company’s stock worth $348,000 after purchasing an additional 192,211 shares during the period. Institutional investors own 41.21% of the company’s stock.

PFIE has been the subject of several recent research reports. Zacks Investment Research downgraded Profire Energy from a “hold” rating to a “sell” rating in a research report on Friday. TheStreet downgraded Profire Energy from a “b-” rating to a “c+” rating in a report on Tuesday, May 21st. Aegis began coverage on Profire Energy in a report on Monday, July 8th. They set a “buy” rating and a $4.00 target price for the company. Finally, ValuEngine downgraded Profire Energy from a “sell” rating to a “strong sell” rating in a report on Thursday, August 8th. Two research analysts have rated the stock with a sell rating, one has given a hold rating and two have given a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $3.92.

Shares of Profire Energy stock traded down $0.02 during midday trading on Friday, reaching $1.70. 84,560 shares of the company’s stock traded hands, compared to its average volume of 166,522. The company has a market cap of $87.31 million, a PE ratio of 14.17 and a beta of 1.61. The stock has a 50 day moving average of $1.42 and a 200-day moving average of $1.58. Profire Energy has a 12 month low of $1.16 and a 12 month high of $3.64.

Profire Energy (NASDAQ:PFIE) last announced its earnings results on Wednesday, August 7th. The oil and gas company reported $0.02 EPS for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.01). The business had revenue of $10.12 million for the quarter, compared to the consensus estimate of $11.05 million. Profire Energy had a net margin of 11.95% and a return on equity of 11.17%. Research analysts anticipate that Profire Energy will post 0.09 EPS for the current year.

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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