Profire Energy (PFIE) Downgraded by ValuEngine

ValuEngine downgraded shares of Profire Energy (NASDAQ:PFIE) from a strong-buy rating to a buy rating in a report released on Tuesday morning.

Several other equities research analysts have also recently weighed in on PFIE. Zacks Investment Research upgraded Profire Energy from a sell rating to a hold rating in a research report on Wednesday, February 28th. Roth Capital initiated coverage on Profire Energy in a research report on Friday, March 2nd. They set a buy rating and a $2.00 price target on the stock. Five analysts have rated the stock with a buy rating, The stock has an average rating of Buy and a consensus target price of $4.75.

Profire Energy opened at $4.68 on Tuesday, according to Marketbeat. The stock has a market cap of $224.05 million, a price-to-earnings ratio of 52.00 and a beta of 1.63. Profire Energy has a 52 week low of $1.19 and a 52 week high of $5.30.

Profire Energy (NASDAQ:PFIE) last announced its quarterly earnings results on Wednesday, May 9th. The oil and gas company reported $0.04 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.02 by $0.02. Profire Energy had a return on equity of 13.15% and a net margin of 13.43%. The firm had revenue of $12.17 million for the quarter, compared to analysts’ expectations of $9.23 million. equities research analysts anticipate that Profire Energy will post 0.2 EPS for the current year.

Institutional investors and hedge funds have recently made changes to their positions in the company. Pacific Ridge Capital Partners LLC increased its position in shares of Profire Energy by 16.9% during the fourth quarter. Pacific Ridge Capital Partners LLC now owns 1,369,885 shares of the oil and gas company’s stock valued at $2,630,000 after buying an additional 197,890 shares during the period. Bailard Inc. bought a new stake in shares of Profire Energy during the fourth quarter valued at about $149,000. Connors Investor Services Inc. bought a new stake in shares of Profire Energy during the first quarter valued at about $158,000. Renaissance Technologies LLC increased its position in shares of Profire Energy by 21.0% in the fourth quarter. Renaissance Technologies LLC now owns 681,800 shares of the oil and gas company’s stock worth $1,309,000 after purchasing an additional 118,465 shares during the last quarter. Finally, Millennium Management LLC bought a new position in shares of Profire Energy in the first quarter worth approximately $328,000. Hedge funds and other institutional investors own 23.10% of the company’s stock.

About Profire Energy

Profire Energy, Inc, an oilfield technology company, provides burner- and chemical-management products and services for the oil and gas industry primarily in the United States and Canada. It assists energy production companies in the production and transportation of oil and natural gas. The company offers burner-management systems to ignite, monitor, and manage the burner flames used in oilfield vessels, as well as complementary oilfield products, such as valves and fuel trains, airplates, solar packages, and flare stack igniters and nozzles.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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