Profire Energy, Inc. (NASDAQ:PFIE) Sees Significant Drop in Short Interest

Profire Energy, Inc. (NASDAQ:PFIE) saw a significant decrease in short interest in the month of August. As of August 31st, there was short interest totalling 371,900 shares, a decrease of 29.5% from the July 31st total of 527,700 shares. Currently, 1.1% of the shares of the company are short sold. Based on an average trading volume of 164,400 shares, the days-to-cover ratio is currently 2.3 days.

PFIE stock traded down $0.02 during trading on Friday, reaching $1.70. The stock had a trading volume of 84,560 shares, compared to its average volume of 166,522. Profire Energy has a 52 week low of $1.16 and a 52 week high of $3.64. The stock’s 50 day moving average is $1.42 and its two-hundred day moving average is $1.58. The firm has a market cap of $87.31 million, a PE ratio of 14.17 and a beta of 1.61.

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

A number of research analysts have weighed in on PFIE shares. Aegis started coverage on Profire Energy in a report on Monday, July 8th. They issued a “buy” rating and a $4.00 target price on the stock. Zacks Investment Research downgraded Profire Energy from a “hold” rating to a “sell” rating in a report on Friday. TheStreet downgraded Profire Energy from a “b-” rating to a “c+” rating in a report on Tuesday, May 21st. Finally, ValuEngine downgraded Profire Energy from a “sell” rating to a “strong sell” rating in a report on Thursday, August 8th. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and two have assigned a buy rating to the stock. Profire Energy currently has a consensus rating of “Hold” and a consensus price target of $3.92.

A number of hedge funds have recently bought and sold shares of the business. Geode Capital Management LLC raised its stake in shares of Profire Energy by 3.0% in 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 during the period. Penn Capital Management Co. Inc. raised its stake in shares of Profire Energy by 5.5% in 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 during the period. Cadence Capital Management LLC raised its stake in shares of Profire Energy by 1.8% in the first quarter. Cadence Capital Management LLC now owns 720,322 shares of the oil and gas company’s stock worth $1,289,000 after buying an additional 12,880 shares during the period. Perritt Capital Management Inc. raised its stake in shares of Profire Energy by 1.6% in 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 during the period. Finally, Connors Investor Services Inc. raised its stake in shares of Profire Energy by 26.4% in the second quarter. Connors Investor Services Inc. now owns 86,270 shares of the oil and gas company’s stock worth $130,000 after buying an additional 18,000 shares during the period. 41.21% of the stock is currently owned by institutional investors.

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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