Profire Energy (NASDAQ:PFIE) Announces Quarterly Earnings Results

Profire Energy (NASDAQ:PFIE) posted its quarterly earnings results on Wednesday. The oil and gas company reported $0.04 earnings per share for the quarter, reports. Profire Energy had a return on equity of 15.34% and a net margin of 15.22%. The company had revenue of $17.20 million during the quarter.

Profire Energy Stock Performance

Shares of PFIE remained flat at $2.51 during trading hours on Friday. The stock had a trading volume of 82,648 shares, compared to its average volume of 344,382. Profire Energy has a 1 year low of $1.33 and a 1 year high of $2.52. The company’s 50-day moving average is $1.77 and its 200 day moving average is $1.64. The firm has a market cap of $117.54 million, a price-to-earnings ratio of 13.94 and a beta of 0.43.

Analysts Set New Price Targets

PFIE has been the subject of a number of research reports. Lake Street Capital reiterated 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 initiated coverage on shares of Profire Energy in a research note on Friday. They issued a “buy” rating for the company.

Hedge Funds Weigh In On Profire Energy

Several institutional investors and hedge funds have recently bought and sold shares of PFIE. Vanguard Group Inc. boosted its holdings in Profire Energy by 17.2% in the 1st quarter. Vanguard Group Inc. now owns 1,604,221 shares of the oil and gas company’s stock worth $2,968,000 after buying an additional 235,664 shares during the period. AMH Equity Ltd grew its holdings in Profire Energy by 31.1% during 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. Pacific Ridge Capital Partners LLC raised its position in shares of Profire Energy by 5.6% during the second 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 buying an additional 91,941 shares during the last quarter. Williams & Novak LLC bought a new position in shares of Profire Energy during the second quarter worth $46,000. Finally, Advisor Resource Council bought a new stake in Profire Energy in the 2nd quarter valued at $38,000. 38.51% of the stock is currently owned by institutional investors.

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.