Roth Capital Analysts Lower Earnings Estimates for Profire Energy, Inc. (NASDAQ:PFIE)

Profire Energy, Inc. (NASDAQ:PFIE) – Investment analysts at Roth Capital reduced their Q2 2024 earnings estimates for shares of Profire Energy in a research report issued to clients and investors on Thursday, June 27th. Roth Capital analyst J. White now forecasts that the oil and gas company will post earnings of $0.03 per share for the quarter, down from their previous forecast of $0.05. The consensus estimate for Profire Energy’s current full-year earnings is $0.13 per share. Roth Capital also issued estimates for Profire Energy’s Q3 2024 earnings at $0.04 EPS, Q4 2024 earnings at $0.03 EPS and FY2024 earnings at $0.13 EPS.

Profire Energy (NASDAQ:PFIE) last posted its 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 firm had revenue of $13.64 million during the quarter, compared to the consensus estimate of $14.10 million.

Separately, StockNews.com downgraded shares of Profire Energy from a “buy” rating to a “hold” rating in a research report on Thursday.

Profire Energy Stock Performance

Profire Energy stock opened at $1.42 on Monday. Profire Energy has a 1 year low of $1.19 and a 1 year high of $3.29. The company has a market cap of $66.88 million, a PE ratio of 7.10 and a beta of 0.50. The company’s 50-day moving average is $1.54 and its two-hundred day moving average is $1.61.

Hedge Funds Weigh In On Profire Energy

Several hedge funds and other institutional investors have recently made changes to their positions in PFIE. O Shaughnessy Asset Management LLC acquired a new stake in shares of Profire Energy during the third quarter worth $95,000. Ritholtz Wealth Management increased its position in Profire Energy by 343.4% during the 4th quarter. Ritholtz Wealth Management now owns 57,433 shares of the oil and gas company’s stock valued at $104,000 after purchasing an additional 44,479 shares during the period. Quadrature Capital Ltd bought a new position in shares of Profire Energy during the 3rd quarter worth approximately $223,000. AMH Equity Ltd bought a new position in shares of Profire Energy during the 4th quarter worth approximately $690,000. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Profire Energy during the 3rd quarter worth approximately $91,000. 38.51% of the stock is owned by 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.