Profire Energy (NASDAQ:PFIE) Share Price Crosses Below 200-Day Moving Average of $1.62

Profire Energy, Inc. (NASDAQ:PFIE)’s share price crossed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $1.62 and traded as low as $1.52. Profire Energy shares last traded at $1.53, with a volume of 208,286 shares changing hands.

Wall Street Analyst Weigh In

Separately, StockNews.com raised Profire Energy from a “hold” rating to a “buy” rating in a research report on Wednesday, July 24th.

Profire Energy Trading Down 3.2 %

The firm has a market capitalization of $72.06 million, a P/E ratio of 7.65 and a beta of 0.51. The company has a 50 day simple moving average of $1.60 and a two-hundred day simple moving average of $1.62.

Profire Energy (NASDAQ:PFIE) last released its quarterly earnings results on Wednesday, August 7th. The oil and gas company reported $0.04 earnings per share for the quarter, beating the consensus estimate of $0.03 by $0.01. Profire Energy had a return on equity of 15.34% and a net margin of 15.22%. The company had revenue of $15.16 million for the quarter. During the same quarter in the previous year, the company posted $0.06 EPS.

Institutional Investors Weigh In On Profire Energy

A number of institutional investors have recently added to or reduced their stakes in the stock. Advisor Resource Council acquired a new stake in Profire Energy in the second quarter worth about $38,000. Williams & Novak LLC acquired a new position in Profire Energy during the second quarter worth $46,000. O Shaughnessy Asset Management LLC lifted its stake in shares of Profire Energy by 16.1% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 175,795 shares of the oil and gas company’s stock valued at $325,000 after purchasing an additional 24,376 shares during the last quarter. Perritt Capital Management Inc lifted its stake in shares of Profire Energy by 4.6% in the 2nd 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 last quarter. Finally, AMH Equity Ltd raised its holdings in shares of Profire Energy by 31.1% in the 1st quarter. AMH Equity Ltd now owns 500,000 shares of the oil and gas company’s stock valued at $925,000 after buying an additional 118,550 shares during the period. 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.