Profire Energy (NASDAQ:PFIE) Downgraded by ValuEngine to Hold

ValuEngine downgraded shares of Profire Energy (NASDAQ:PFIE) from a buy rating to a hold rating in a research note issued to investors on Thursday, ValuEngine reports.

Several other research firms have also weighed in on PFIE. Roth Capital lowered shares of Profire Energy from a buy rating to a neutral rating in a research note on Friday, March 13th. Zacks Investment Research lowered shares of Profire Energy from a hold rating to a strong sell rating in a research note on Friday, March 13th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company’s stock. Profire Energy currently has an average rating of Hold and an average target price of $2.75.

NASDAQ:PFIE traded up $0.02 during mid-day trading on Thursday, hitting $0.80. 30,316 shares of the company’s stock were exchanged, compared to its average volume of 107,602. Profire Energy has a fifty-two week low of $0.62 and a fifty-two week high of $2.02. The company has a 50 day simple moving average of $1.05 and a 200-day simple moving average of $1.45. The firm has a market capitalization of $37.42 million, a P/E ratio of 20.13 and a beta of 1.76.

Profire Energy (NASDAQ:PFIE) last released its quarterly earnings results on Wednesday, March 11th. The oil and gas company reported ($0.03) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.02 by ($0.05). Profire Energy had a return on equity of 4.29% and a net margin of 5.19%. The firm had revenue of $8.12 million for the quarter, compared to the consensus estimate of $8.72 million. On average, analysts forecast that Profire Energy will post 0.12 earnings per share for the current year.

Institutional investors and hedge funds have recently bought and sold shares of the business. Virtu Financial LLC purchased a new position in Profire Energy during the 4th quarter worth $41,000. Marshall Wace LLP purchased a new position in Profire Energy during the 1st quarter worth $134,000. Cambridge Investment Research Advisors Inc. boosted its holdings in Profire Energy by 39.9% during the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 327,724 shares of the oil and gas company’s stock worth $475,000 after acquiring an additional 93,400 shares during the last quarter. Essex Investment Management Co. LLC boosted its holdings in Profire Energy by 4.9% during the 4th quarter. Essex Investment Management Co. LLC now owns 589,909 shares of the oil and gas company’s stock worth $855,000 after acquiring an additional 27,552 shares during the last quarter. Finally, Ancora Advisors LLC boosted its holdings in Profire Energy by 16.8% during the 4th quarter. Ancora Advisors LLC now owns 794,672 shares of the oil and gas company’s stock worth $1,152,000 after acquiring an additional 114,124 shares during the last quarter. 43.28% of the stock is currently owned by hedge funds and other 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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To view ValuEngine’s full report, visit ValuEngine’s official website.

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