Profire Energy (NASDAQ:PFIE) Rating Lowered to Buy at StockNews.com

Profire Energy (NASDAQ:PFIE) was downgraded by equities researchers at StockNews.com from a “strong-buy” rating to a “buy” rating in a research note issued to investors on Tuesday.

Separately, Roth Capital upgraded shares of Profire Energy from a “neutral” rating to a “buy” rating in a report on Wednesday, May 10th.

Profire Energy Trading Up 5.6 %

Profire Energy stock opened at $2.83 on Tuesday. The firm has a 50 day simple moving average of $1.60 and a 200 day simple moving average of $1.36. Profire Energy has a 1-year low of $0.85 and a 1-year high of $2.98. The firm has a market capitalization of $134.65 million, a price-to-earnings ratio of 16.65 and a beta of 0.82.

Profire Energy (NASDAQ:PFIE) last issued its quarterly earnings data on Wednesday, August 9th. The oil and gas company reported $0.06 EPS for the quarter, beating the consensus estimate of $0.05 by $0.01. The company had revenue of $14.44 million during the quarter, compared to analysts’ expectations of $14.30 million. Profire Energy had a net margin of 15.20% and a return on equity of 17.51%. On average, equities research analysts forecast that Profire Energy will post 0.23 EPS for the current year.

Hedge Funds Weigh In On Profire Energy

Institutional investors and hedge funds have recently bought and sold shares of the stock. Wells Fargo & Company MN boosted its stake in shares of Profire Energy by 0.4% during the second quarter. Wells Fargo & Company MN now owns 1,624,061 shares of the oil and gas company’s stock valued at $1,998,000 after purchasing an additional 6,205 shares during the period. AWM Investment Company Inc. grew its holdings in Profire Energy by 7.5% in the 2nd quarter. AWM Investment Company Inc. now owns 2,240,158 shares of the oil and gas company’s stock worth $2,755,000 after acquiring an additional 155,444 shares during the last quarter. BlackRock Inc. increased its position in shares of Profire Energy by 2.5% in the second quarter. BlackRock Inc. now owns 368,760 shares of the oil and gas company’s stock valued at $454,000 after acquiring an additional 8,845 shares during the period. Geode Capital Management LLC raised its stake in shares of Profire Energy by 22.8% during the second quarter. Geode Capital Management LLC now owns 323,836 shares of the oil and gas company’s stock valued at $398,000 after acquiring an additional 60,121 shares during the last quarter. Finally, Cetera Investment Advisers boosted its holdings in shares of Profire Energy by 54.0% during the second quarter. Cetera Investment Advisers now owns 68,170 shares of the oil and gas company’s stock worth $84,000 after purchasing an additional 23,905 shares during the period. 43.63% of the stock is currently owned by institutional investors.

Profire Energy Company Profile

Profire Energy, Inc, a technology company, provides burner, and combustion management systems and solutions for natural and forced draft applications in the United States and Canada. It primarily focuses on the upstream, midstream, and downstream transmission segments of the oil and gas industry. The company also sells and installs its systems in South America, Europe, Africa, the Middle East, and Asia.