The Profire Energy Inc. (PFIE) Raised to Hold at Zacks Investment Research

The Profire Energy Inc. (PFIE) Raised to Hold at Zacks Investment Research

Profire Energy Inc. (NASDAQ:PFIE) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a research note issued to investors on Wednesday.

According to Zacks, “Profire Energy, Inc. manufactures, installs and services oilfield combustion management systems and related burner products. The Company’s products aid oil and natural gas producers in the safe and efficient development and transportation of carbon-based fuels. Its products include Profire 2100 and the Profire 1100, Profire 1100i and fuel-trains or valve-trains, which comprise piping, valves, and controls related to the process of providing fuel to burners, as well as having safety controllers to monitor operations. Profire Energy, Inc. is based in Lindon, Utah. “

Shares of Profire Energy (NASDAQ:PFIE) opened at 1.26 on Wednesday. The stock’s market capitalization is $67.19 million. The company’s 50 day moving average price is $1.21 and its 200 day moving average price is $1.09. Profire Energy has a 52-week low of $0.65 and a 52-week high of $1.43.

Profire Energy (NASDAQ:PFIE) last released its earnings results on Wednesday, August 10th. The company reported ($0.01) earnings per share for the quarter, missing the consensus estimate of ($0.01) by $0.01. Profire Energy had a negative net margin of 0.47% and a negative return on equity of 0.25%. On average, equities research analysts anticipate that Profire Energy will post ($0.01) EPS for the current year.

Institutional investors have recently added to or reduced their stakes in the stock. Societe Generale purchased a new position in Profire Energy during the second quarter valued at $166,000. Perkins Capital Management Inc. purchased a new position in Profire Energy during the second quarter valued at $309,000. Wolverine Asset Management LLC increased its position in Profire Energy by 14.4% in the second quarter. Wolverine Asset Management LLC now owns 345,282 shares of the company’s stock valued at $383,000 after buying an additional 43,411 shares during the period. Northpointe Capital LLC increased its position in Profire Energy by 2.3% in the second quarter. Northpointe Capital LLC now owns 1,883,818 shares of the company’s stock valued at $2,091,000 after buying an additional 42,060 shares during the period. Finally, Royce & Associates LP increased its position in Profire Energy by 5.5% in the second quarter. Royce & Associates LP now owns 2,904,392 shares of the company’s stock valued at $3,224,000 after buying an additional 152,351 shares during the period. Institutional investors and hedge funds own 15.86% of the company’s stock.

About Profire Energy

Profire Energy, Inc is an oilfield technology company. The Company is primarily engaged in the business of developing combustion management technologies for the oil and gas industry. It specializes in the creation of burner-management systems, used on a range of oilfield natural-draft fire tube vessels.

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