Wedge Capital Management L L P NC Sells 81,825 Shares of Profire Energy, Inc. (NASDAQ:PFIE)

Wedge Capital Management L L P NC trimmed its stake in Profire Energy, Inc. (NASDAQ:PFIE) by 18.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 372,554 shares of the oil and gas company’s stock after selling 81,825 shares during the period. Wedge Capital Management L L P NC owned about 0.79% of Profire Energy worth $563,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Perkins Capital Management Inc. grew its holdings in shares of Profire Energy by 1.4% during the first quarter. Perkins Capital Management Inc. now owns 478,750 shares of the oil and gas company’s stock worth $857,000 after purchasing an additional 6,550 shares during the last quarter. BlackRock Inc. grew its holdings in shares of Profire Energy by 0.5% during the fourth quarter. BlackRock Inc. now owns 1,535,945 shares of the oil and gas company’s stock worth $2,227,000 after purchasing an additional 6,998 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Profire Energy by 3.0% during the fourth quarter. Geode Capital Management LLC now owns 309,857 shares of the oil and gas company’s stock worth $449,000 after purchasing an additional 9,050 shares during the last quarter. Penn Capital Management Co. Inc. grew its holdings in shares of Profire Energy by 5.5% during the first quarter. Penn Capital Management Co. Inc. now owns 211,643 shares of the oil and gas company’s stock worth $379,000 after purchasing an additional 11,001 shares during the last quarter. Finally, Cadence Capital Management LLC grew its holdings in shares of Profire Energy by 1.8% during the first quarter. Cadence Capital Management LLC now owns 720,322 shares of the oil and gas company’s stock worth $1,289,000 after purchasing an additional 12,880 shares during the last quarter. Hedge funds and other institutional investors own 45.64% of the company’s stock.

Several analysts have recently commented on the company. Zacks Investment Research upgraded Profire Energy from a “sell” rating to a “hold” rating in a report on Tuesday, May 7th. ValuEngine cut Profire Energy from a “sell” rating to a “strong sell” rating in a report on Thursday, August 8th. Aegis assumed coverage on Profire Energy in a report on Monday, July 8th. They set a “buy” rating and a $4.00 target price on the stock. TheStreet cut Profire Energy from a “b-” rating to a “c+” rating in a report on Tuesday, May 21st. Finally, Chardan Capital restated a “hold” rating on shares of Profire Energy in a report on Tuesday, May 14th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $3.92.



Profire Energy stock traded up $0.05 during mid-day trading on Friday, hitting $1.42. The stock had a trading volume of 127,800 shares, compared to its average volume of 114,671. The stock has a 50-day simple moving average of $1.46 and a two-hundred day simple moving average of $1.61. The stock has a market capitalization of $69.54 million, a PE ratio of 13.70 and a beta of 1.80. Profire Energy, Inc. has a 12 month low of $1.16 and a 12 month high of $3.64.

Profire Energy (NASDAQ:PFIE) last posted its quarterly earnings results on Wednesday, August 7th. The oil and gas company reported $0.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.03 by ($0.01). The firm had revenue of $10.12 million during the quarter, compared to the consensus estimate of $11.05 million. Profire Energy had a net margin of 11.95% and a return on equity of 11.17%. Research analysts forecast that Profire Energy, Inc. will post 0.14 earnings per share for the current year.

Profire Energy Profile

Profire Energy, Inc, an oilfield technology company, provides burner- and chemical-management products and services for the oil and gas industry in North America. It assists energy production companies in the production and transportation of oil and natural gas. Its products include PF3100, a burner-management system, which is designed to operate, monitor, control, and manage various complex and multi-faceted oilfield appliances; safety and monitoring devices, such as shut-down and temperature valves, pressure transmitters and switches, burners, pilots, and other combustion related equipment; and chemical-management systems to monitor and manage chemical-injection process to ensure that optimal levels of chemicals are injected.

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Institutional Ownership by Quarter for Profire Energy (NASDAQ:PFIE)

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