Profire Energy (NASDAQ:PFIE) Share Price Crosses Below Two Hundred Day Moving Average – Here’s What Happened

Profire Energy, Inc. (NASDAQ:PFIE) shares passed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $1.60 and traded as low as $1.50. Profire Energy shares last traded at $1.62, with a volume of 189,287 shares.

Analysts Set New Price Targets

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

Profire Energy Stock Performance

The business has a 50-day simple moving average of $1.64 and a 200-day simple moving average of $1.60. The company has a market cap of $81.48 million, a price-to-earnings ratio of 9.33 and a beta of 0.49.

Profire Energy (NASDAQ:PFIE) last released its earnings results on Wednesday, August 7th. The oil and gas company reported $0.04 earnings per share for the quarter, topping analysts’ consensus estimates of $0.03 by $0.01. Profire Energy had a net margin of 15.22% and a return on equity of 15.34%. The firm had revenue of $15.16 million for the quarter. During the same quarter in the previous year, the company posted $0.06 earnings per share.

Institutional Investors Weigh In On Profire Energy

Hedge funds and other institutional investors have recently modified their holdings of the company. Advisor Resource Council acquired a new stake in shares of Profire Energy during the 2nd quarter worth about $38,000. Williams & Novak LLC acquired a new stake in Profire Energy during the second quarter worth approximately $46,000. O Shaughnessy Asset Management LLC lifted its position in shares of Profire Energy by 16.1% during the 1st 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 during the last quarter. Perritt Capital Management Inc boosted its holdings in shares of Profire Energy by 4.6% in the 2nd quarter. Perritt Capital Management Inc now owns 335,800 shares of the oil and gas company’s stock valued at $477,000 after buying an additional 14,720 shares in the last quarter. Finally, AMH Equity Ltd grew its position in shares of 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 during the last quarter. 38.51% of the stock is currently 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.