Profire Energy (NASDAQ:PFIE) Downgraded by StockNews.com to Hold

StockNews.com downgraded shares of Profire Energy (NASDAQ:PFIEFree Report) from a buy rating to a hold rating in a report published on Thursday.

Profire Energy Stock Down 1.4 %

Shares of NASDAQ:PFIE opened at $1.42 on Thursday. The company has a market cap of $66.88 million, a price-to-earnings ratio of 7.10 and a beta of 0.50. The business has a 50 day moving average price of $1.55 and a 200 day moving average price of $1.61. Profire Energy has a twelve month low of $1.19 and a twelve month high of $3.29.

Profire Energy (NASDAQ:PFIEGet Free Report) last posted its quarterly earnings results on Wednesday, May 8th. The oil and gas company reported $0.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.04 by ($0.01). The company had revenue of $13.64 million during the quarter, compared to analyst estimates of $14.10 million. Profire Energy had a return on equity of 17.27% and a net margin of 16.79%. Analysts anticipate that Profire Energy will post 0.2 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Connor Clark & Lunn Investment Management Ltd. bought a new stake in Profire Energy in the third quarter valued at about $91,000. O Shaughnessy Asset Management LLC bought a new stake in shares of Profire Energy in the 3rd quarter valued at approximately $95,000. Ritholtz Wealth Management grew its stake in shares of Profire Energy by 343.4% in the 4th quarter. Ritholtz Wealth Management now owns 57,433 shares of the oil and gas company’s stock valued at $104,000 after purchasing an additional 44,479 shares during the period. Barclays PLC bought a new position in shares of Profire Energy during the 3rd quarter worth approximately $131,000. Finally, Quadrature Capital Ltd acquired a new stake in Profire Energy in the 3rd quarter valued at $223,000. 38.51% of the stock is owned by institutional investors.

About Profire Energy

(Get Free Report)

Profire Energy, Inc, a technology company, engages in the engineering and design of 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.

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