Profire Energy Inc. (PFIE) Rating Increased 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 report issued to clients and 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. “
Profire Energy (NASDAQ:PFIE) opened at 1.21 on Wednesday. Profire Energy has a 12-month low of $0.65 and a 12-month high of $1.43. The stock’s 50 day moving average price is $1.21 and its 200 day moving average price is $1.09. The company’s market cap is $64.52 million.
Profire Energy (NASDAQ:PFIE) last announced its quarterly earnings data 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 return on equity of 0.25% and a negative net margin of 0.47%. Equities research analysts anticipate that Profire Energy will post ($0.01) EPS for the current year.
Institutional investors have recently modified their holdings of the company. Societe Generale purchased a new position in shares of Profire Energy during the second quarter worth about $166,000. Perkins Capital Management Inc. purchased a new position in shares of Profire Energy during the second quarter worth about $309,000. Wolverine Asset Management LLC boosted its position in shares of Profire Energy by 14.4% in the second quarter. Wolverine Asset Management LLC now owns 345,282 shares of the company’s stock worth $383,000 after buying an additional 43,411 shares during the last quarter. Northpointe Capital LLC boosted its position in shares of Profire Energy by 2.3% in the second quarter. Northpointe Capital LLC now owns 1,883,818 shares of the company’s stock worth $2,091,000 after buying an additional 42,060 shares during the last quarter. Finally, Royce & Associates LP boosted its position in shares of Profire Energy by 5.5% in the second quarter. Royce & Associates LP now owns 2,904,392 shares of the company’s stock worth $3,224,000 after buying an additional 152,351 shares during the last quarter. 15.86% of the stock is owned by institutional investors and hedge funds.
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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