Zacks Investment Research Upgrades Profire Energy (NASDAQ:PFIE) to “Buy”

Zacks Investment Research upgraded shares of Profire Energy (NASDAQ:PFIE) from a hold rating to a buy rating in a research note published on Thursday morning, Zacks.com reports. Zacks Investment Research currently has $1.25 target price on the oil and gas company’s stock.

According to Zacks, “Profire Energy, Inc. manufactures, installs and services oilfield combustion management systems and related burner products. The Company’s products aid oil and natural gas producers in the safe and efficient development and transportation of carbon-based fuels. Its products include Profire 2100 and the Profire 1100, Profire 1100i and fuel-trains or valve-trains, which comprise piping, valves, and controls related to the process of providing fuel to burners, as well as having safety controllers to monitor operations. Profire Energy, Inc. is based in Lindon, Utah. “

Separately, Bradley Woods upgraded shares of Profire Energy from a hold rating to a buy rating in a research report on Tuesday, February 16th.

Shares of PFIE stock opened at $1.15 on Thursday. The stock’s 50 day moving average is $1.16. The firm has a market capitalization of $55.23 million, a P/E ratio of -23.00 and a beta of 1.36. Profire Energy has a 12-month low of $0.63 and a 12-month high of $1.74.

Profire Energy (NASDAQ:PFIE) last issued its quarterly earnings data on Wednesday, May 5th. The oil and gas company reported ($0.01) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.02) by $0.01. The firm had revenue of $5.09 million during the quarter, compared to the consensus estimate of $4.04 million. Profire Energy had a negative net margin of 12.63% and a negative return on equity of 5.36%.

Institutional investors and hedge funds have recently made changes to their positions in the company. Goldman Sachs Group Inc. bought a new position in shares of Profire Energy during the first quarter worth approximately $35,000. Virtu Financial LLC bought a new position in shares of Profire Energy during the first quarter worth approximately $63,000. Acadian Asset Management LLC bought a new position in shares of Profire Energy during the first quarter worth approximately $76,000. Marshall Wace LLP bought a new position in shares of Profire Energy during the first quarter worth approximately $134,000. Finally, Millennium Management LLC bought a new position in shares of Profire Energy during the first quarter worth approximately $224,000. 35.02% of the stock is currently owned by institutional investors.

Profire Energy Company Profile

Profire Energy, Inc, a technology company, provides burner-management systems and solutions for natural and forced draft applications in the United States and Canada. It primarily focuses in the upstream, midstream, and downstream transmission segments of the oil and gas industry. The company assists energy production companies in the production, and transportation of oil and natural gas.

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