Profire Energy (NASDAQ:PFIE) Announces Quarterly Earnings Results

Profire Energy (NASDAQ:PFIE) issued its earnings results on Wednesday. The oil and gas company reported $0.04 EPS for the quarter, reports. Profire Energy had a return on equity of 15.33% and a net margin of 14.86%. The company had revenue of $17.20 million during the quarter.

Profire Energy Price Performance

Shares of PFIE stock opened at $2.51 on Friday. The business has a 50 day moving average of $1.78 and a two-hundred day moving average of $1.65. The company has a market cap of $117.53 million, a P/E ratio of 13.94 and a beta of 0.43. Profire Energy has a 52 week low of $1.33 and a 52 week high of $2.52.

Hedge Funds Weigh In On Profire Energy

Hedge funds and other institutional investors have recently made changes to their positions in the business. Advisor Resource Council acquired a new position in shares of Profire Energy during the second quarter worth approximately $38,000. Williams & Novak LLC acquired a new stake in Profire Energy in the second quarter worth approximately $46,000. O Shaughnessy Asset Management LLC lifted its position in Profire Energy by 16.1% in the first quarter. O Shaughnessy Asset Management LLC now owns 175,795 shares of the oil and gas company’s stock worth $325,000 after purchasing an additional 24,376 shares during the period. Perritt Capital Management Inc lifted its position in Profire Energy by 4.6% in the second quarter. Perritt Capital Management Inc now owns 335,800 shares of the oil and gas company’s stock worth $477,000 after purchasing an additional 14,720 shares during the period. Finally, AMH Equity Ltd lifted its position in Profire Energy by 31.1% in the first quarter. AMH Equity Ltd now owns 500,000 shares of the oil and gas company’s stock worth $925,000 after purchasing an additional 118,550 shares during the period. 38.51% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

PFIE has been the subject of a number of research reports. Lake Street Capital restated a “hold” rating and issued a $2.55 target price on shares of Profire Energy in a research note on Wednesday, October 30th. StockNews.com initiated coverage on Profire Energy in a research note on Friday. They issued a “buy” rating for the company.

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.