Profire Energy, Inc. (NASDAQ:PFIE) Short Interest Update

Profire Energy, Inc. (NASDAQ:PFIE) was the target of a significant decline in short interest in October. As of October 31st, there was short interest totalling 146,000 shares, a decline of 17.6% from the October 15th total of 177,200 shares. Based on an average daily volume of 700,500 shares, the short-interest ratio is presently 0.2 days. Approximately 0.4% of the shares of the company are sold short.

Hedge Funds Weigh In On Profire Energy

Several institutional investors have recently added to or reduced their stakes in the stock. Perritt Capital Management Inc increased its holdings in shares of Profire Energy by 4.6% in the second quarter. Perritt Capital Management Inc now owns 335,800 shares of the oil and gas company’s stock valued at $477,000 after purchasing an additional 14,720 shares during the period. Royce & Associates LP increased its stake in Profire Energy by 1.0% in the 3rd quarter. Royce & Associates LP now owns 2,032,361 shares of the oil and gas company’s stock valued at $3,414,000 after buying an additional 20,000 shares during the period. O Shaughnessy Asset Management LLC raised its position in Profire Energy by 16.1% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 175,795 shares of the oil and gas company’s stock worth $325,000 after buying an additional 24,376 shares during the last quarter. Advisor Resource Council acquired a new stake in shares of Profire Energy in the 2nd quarter worth $38,000. Finally, Williams & Novak LLC purchased a new stake in shares of Profire Energy in the second quarter valued at about $46,000. Institutional investors and hedge funds own 38.51% of the company’s stock.

Profire Energy Stock Performance

NASDAQ PFIE opened at $2.52 on Friday. The firm’s fifty day moving average is $1.87 and its two-hundred day moving average is $1.67. Profire Energy has a one year low of $1.33 and a one year high of $2.52. The firm has a market cap of $116.19 million, a PE ratio of 13.97 and a beta of 0.43.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on PFIE shares. StockNews.com began coverage on Profire Energy in a research report on Saturday. They issued a “buy” rating for the company. Lake Street Capital reissued a “hold” rating and issued a $2.55 price objective on shares of Profire Energy in a report on Wednesday, October 30th.

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.