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

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

Profire Energy Price Performance

Profire Energy stock opened at $1.42 on Thursday. The stock has a market capitalization of $66.88 million, a price-to-earnings ratio of 7.10 and a beta of 0.50. The stock has a 50-day simple moving average of $1.54 and a 200 day simple moving average of $1.61. Profire Energy has a 12-month low of $1.19 and a 12-month high of $3.29.

Profire Energy (NASDAQ:PFIE) last released its quarterly earnings data on Wednesday, May 8th. The oil and gas company reported $0.03 EPS for the quarter, missing the consensus estimate of $0.04 by ($0.01). The firm had revenue of $13.64 million for the quarter, compared to the consensus estimate of $14.10 million. Profire Energy had a net margin of 16.79% and a return on equity of 17.27%. As a group, sell-side analysts anticipate that Profire Energy will post 0.2 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. O Shaughnessy Asset Management LLC purchased a new position in Profire Energy in the third quarter worth $95,000. Ritholtz Wealth Management boosted its position 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 during the last quarter. Quadrature Capital Ltd purchased a new position in shares of Profire Energy during the 3rd quarter valued at $223,000. AWM Investment Company Inc. lifted its position in shares of Profire Energy by 15.9% during the 3rd quarter. AWM Investment Company Inc. now owns 2,596,156 shares of the oil and gas company’s stock valued at $7,217,000 after buying an additional 355,998 shares during the last quarter. Finally, AMH Equity Ltd bought a new position in shares of Profire Energy during the 4th quarter worth $690,000. Hedge funds and other institutional investors own 38.51% of the company’s stock.

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.