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

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

Profire Energy Stock Performance

Shares of Profire Energy stock opened at $1.42 on Thursday. The firm has a market capitalization of $66.88 million, a price-to-earnings ratio of 7.10 and a beta of 0.50. Profire Energy has a fifty-two week low of $1.19 and a fifty-two week high of $3.29. The stock has a 50 day moving average of $1.54 and a 200 day moving average of $1.61.

Profire Energy (NASDAQ:PFIE) last issued its quarterly earnings data on Wednesday, May 8th. The oil and gas company reported $0.03 earnings per share for the quarter, missing the consensus estimate of $0.04 by ($0.01). The business had revenue of $13.64 million during the quarter, compared to analysts’ expectations of $14.10 million. Profire Energy had a return on equity of 17.27% and a net margin of 16.79%. Analysts forecast that Profire Energy will post 0.13 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Connor Clark & Lunn Investment Management Ltd. acquired a new position in Profire Energy during the third quarter worth $91,000. O Shaughnessy Asset Management LLC acquired a new position in Profire Energy during the third quarter worth $95,000. Ritholtz Wealth Management lifted its stake in Profire Energy by 343.4% during the fourth quarter. Ritholtz Wealth Management now owns 57,433 shares of the oil and gas company’s stock worth $104,000 after purchasing an additional 44,479 shares in the last quarter. Barclays PLC acquired a new position in Profire Energy during the third quarter worth $131,000. Finally, Quadrature Capital Ltd acquired a new position in Profire Energy during the third quarter worth $223,000. 38.51% of the stock is currently owned by institutional investors and hedge funds.

About Profire Energy

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.