Profire Energy, Inc. (NASDAQ:PFIE) saw a significant decrease in short interest during the month of October. As of October 31st, there was short interest totalling 246,700 shares, a decrease of 25.6% from the September 30th total of 331,700 shares. Currently, 0.8% of the company’s shares are sold short. Based on an average daily trading volume, of 85,200 shares, the days-to-cover ratio is presently 2.9 days.

Shares of PFIE traded down $0.02 during mid-day trading on Friday, hitting $1.60. 42,600 shares of the company’s stock were exchanged, compared to its average volume of 50,438. The company has a market cap of $83.32 million, a price-to-earnings ratio of 13.33 and a beta of 1.63. Profire Energy has a fifty-two week low of $1.16 and a fifty-two week high of $2.36. The stock’s 50-day moving average is $1.81 and its 200-day moving average is $1.58.

Profire Energy (NASDAQ:PFIE) last announced its quarterly earnings results on Wednesday, November 6th. The oil and gas company reported $0.02 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.02. The company had revenue of $9.91 million for the quarter, compared to analyst estimates of $10.33 million. Profire Energy had a net margin of 10.63% and a return on equity of 9.41%. As a group, research analysts predict that Profire Energy will post 0.09 EPS for the current fiscal year.

Several institutional investors and hedge funds have recently made changes to their positions in PFIE. River & Mercantile Asset Management LLP purchased a new position in shares of Profire Energy during the second quarter worth approximately $927,000. Foundry Partners LLC grew its position 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 worth $1,066,000 after acquiring an additional 453,625 shares during the last quarter. FMR LLC grew its position 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 worth $3,601,000 after acquiring an additional 433,698 shares during the last quarter. Pacific Ridge Capital Partners LLC grew its position in shares of Profire Energy by 34.0% during the second quarter. Pacific Ridge Capital Partners LLC now owns 1,065,771 shares of the oil and gas company’s stock worth $1,609,000 after acquiring an additional 270,124 shares during the last quarter. Finally, Ancora Advisors LLC grew its position in shares of Profire Energy by 47.7% during the second quarter. Ancora Advisors LLC now owns 469,033 shares of the oil and gas company’s stock worth $708,000 after acquiring an additional 151,582 shares during the last quarter. Institutional investors and hedge funds own 39.92% of the company’s stock.

Several analysts have recently issued reports on the stock. ValuEngine cut shares of Profire Energy from a “buy” rating to a “hold” rating in a research report on Thursday, October 31st. Zacks Investment Research raised shares of Profire Energy from a “sell” rating to a “hold” rating in a research report on Friday, November 8th. Three research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $4.00.

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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