Profire Energy (NASDAQ:PFIE) Stock Rating Lowered by StockNews.com

Profire Energy (NASDAQ:PFIE) was downgraded by equities researchers at StockNews.com from a “buy” rating to a “hold” rating in a research note issued to investors on Thursday.

Profire Energy Price Performance

PFIE stock opened at $1.42 on Thursday. The firm’s fifty day simple moving average is $1.54 and its 200-day simple moving average is $1.60. The company has a market capitalization of $66.88 million, a P/E ratio of 7.10 and a beta of 0.50. 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 business had revenue of $13.64 million during the quarter, compared to analysts’ expectations 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 forecast that Profire Energy will post 0.2 earnings per share for the current year.

Institutional Trading of Profire Energy

Hedge funds have recently added to or reduced their stakes in the company. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in Profire Energy during the third quarter worth $91,000. O Shaughnessy Asset Management LLC purchased a new stake in Profire Energy during the third quarter worth $95,000. Barclays PLC purchased a new stake in Profire Energy during the third quarter worth $131,000. Ritholtz Wealth Management boosted its holdings 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 buying an additional 44,479 shares in the last quarter. Finally, Quadrature Capital Ltd acquired a new position in Profire Energy during the third quarter worth $223,000. 38.51% of the stock is owned by hedge funds and other institutional investors.

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.