Profire Energy (NASDAQ:PFIE) Upgraded to Buy at StockNews.com

StockNews.com upgraded shares of Profire Energy (NASDAQ:PFIE) from a hold rating to a buy rating in a report issued on Wednesday morning.

Profire Energy Stock Performance

Shares of NASDAQ PFIE opened at $1.58 on Wednesday. The business’s 50 day moving average price is $1.51 and its 200-day moving average price is $1.59. Profire Energy has a fifty-two week low of $1.28 and a fifty-two week high of $3.29. The company has a market cap of $74.42 million, a price-to-earnings ratio of 7.90 and a beta of 0.50.

Profire Energy (NASDAQ:PFIE) last issued its quarterly earnings results 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). Profire Energy had a return on equity of 17.27% and a net margin of 16.79%. The business had revenue of $13.64 million during the quarter, compared to analysts’ expectations of $14.10 million. Sell-side analysts predict that Profire Energy will post 0.13 earnings per share for the current year.

Institutional Investors Weigh In On Profire Energy

Several hedge funds and other institutional investors have recently modified their holdings of the business. Perkins Capital Management Inc. grew its stake in Profire Energy by 0.9% in the first quarter. Perkins Capital Management Inc. now owns 945,520 shares of the oil and gas company’s stock worth $1,749,000 after purchasing an additional 8,788 shares in the last quarter. O Shaughnessy Asset Management LLC grew its stake in Profire Energy by 16.1% in the first quarter. O Shaughnessy Asset Management LLC now owns 175,795 shares of the oil and gas company’s stock worth $325,000 after purchasing an additional 24,376 shares in the last quarter. Advisor Resource Council bought a new position in Profire Energy in the second quarter worth approximately $38,000. Williams & Novak LLC bought a new position in Profire Energy in the second quarter worth approximately $46,000. Finally, Ritholtz Wealth Management grew its stake in Profire Energy by 343.4% in 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. 38.51% of the stock is currently owned by hedge funds and other institutional investors.

Profire Energy Company Profile

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.