Short Interest in Profire Energy, Inc. (NASDAQ:PFIE) Drops By 24.0%

Profire Energy, Inc. (NASDAQ:PFIE - Get Free Report) was the target of a large decline in short interest in December. As of December 15th, there was short interest totalling 81,900 shares, a decline of 24.0% from the November 30th total of 107,800 shares. Approximately 0.2% of the company's shares are short sold. Based on an average daily volume of 798,100 shares, the short-interest ratio is presently 0.1 days.

Profire Energy Stock Performance

Shares of PFIE remained flat at $2.55 during midday trading on Friday. The company's stock had a trading volume of 94,553 shares, compared to its average volume of 354,307. Profire Energy has a 12 month low of $1.33 and a 12 month high of $2.55. The company's fifty day moving average is $2.42 and its 200-day moving average is $1.87. The stock has a market capitalization of $117.81 million, a P/E ratio of 14.17 and a beta of 0.45.

Analysts Set New Price Targets

A number of research firms recently issued reports on PFIE. Lake Street Capital reissued a "hold" rating and set a $2.55 target price on shares of Profire Energy in a research report on Wednesday, October 30th. StockNews.com assumed coverage on shares of Profire Energy in a research report on Thursday. They issued a "buy" rating for the company.

Hedge Funds Weigh In On Profire Energy

Several hedge funds and other institutional investors have recently bought and sold shares of PFIE. Virtu Financial LLC acquired a new position in Profire Energy in the 3rd quarter worth $46,000. Jane Street Group LLC lifted its stake in shares of Profire Energy by 359.3% in the third quarter. Jane Street Group LLC now owns 48,870 shares of the oil and gas company's stock worth $82,000 after acquiring an additional 38,230 shares in the last quarter. Perritt Capital Management Inc boosted its holdings 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 valued at $477,000 after purchasing an additional 14,720 shares during the last quarter. Pacific Ridge Capital Partners LLC grew its stake in Profire Energy by 5.6% during the 2nd quarter. Pacific Ridge Capital Partners LLC now owns 1,739,715 shares of the oil and gas company's stock valued at $2,470,000 after purchasing an additional 91,941 shares in the last quarter. Finally, Royce & Associates LP grew its stake in Profire Energy by 1.0% during the 3rd quarter. Royce & Associates LP now owns 2,032,361 shares of the oil and gas company's stock valued at $3,414,000 after purchasing an additional 20,000 shares in the last quarter. 38.51% of the stock is owned by institutional investors and hedge funds.

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.