Profire Energy, Inc. (NASDAQ:PFIE) Sees Significant Decrease in Short Interest

Profire Energy, Inc. (NASDAQ:PFIE - Get Free Report) saw a large decrease in short interest in September. As of September 30th, there was short interest totalling 157,100 shares, a decrease of 44.9% from the September 15th total of 285,300 shares. Based on an average daily trading volume, of 156,200 shares, the short-interest ratio is presently 1.0 days. Currently, 0.5% of the company's stock are sold short.

Analysts Set New Price Targets

Separately, StockNews.com raised shares of Profire Energy from a "hold" rating to a "buy" rating in a report on Wednesday, July 24th.

Institutional Trading of Profire Energy

A number of institutional investors have recently made changes to their positions in PFIE. Advisor Resource Council acquired a new stake in Profire Energy in the 2nd quarter valued at about $38,000. Williams & Novak LLC acquired a new stake in shares of Profire Energy in the second quarter valued at approximately $46,000. O Shaughnessy Asset Management LLC lifted its position in Profire Energy by 16.1% during 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 buying an additional 24,376 shares in the last quarter. Perritt Capital Management Inc boosted its stake in Profire Energy by 4.6% during the second quarter. Perritt Capital Management Inc now owns 335,800 shares of the oil and gas company's stock worth $477,000 after buying an additional 14,720 shares during the last quarter. Finally, AMH Equity Ltd grew its holdings in 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 in the last quarter. 38.51% of the stock is owned by institutional investors and hedge funds.

Profire Energy Stock Up 1.2 %

Shares of NASDAQ PFIE traded up $0.02 during midday trading on Friday, reaching $1.70. 78,954 shares of the stock were exchanged, compared to its average volume of 187,993. Profire Energy has a twelve month low of $1.33 and a twelve month high of $2.47. The firm has a 50-day simple moving average of $1.61 and a two-hundred day simple moving average of $1.62. The firm has a market cap of $79.61 million, a price-to-earnings ratio of 9.44 and a beta of 0.49.

Profire Energy (NASDAQ:PFIE - Get Free Report) last issued its quarterly earnings data on Wednesday, August 7th. The oil and gas company reported $0.04 EPS 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 period in the previous year, the business posted $0.06 earnings per share.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.