Profire Energy (NASDAQ:PFIE) Stock Rating Lowered by Zacks Investment Research

Profire Energy (NASDAQ:PFIE) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Wednesday, Zacks.com reports.

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. “

A number of other research analysts have also commented on PFIE. Dawson James assumed coverage on Profire Energy in a research report on Thursday, August 5th. They set a “buy” rating and a $1.65 price target for the company. TheStreet raised Profire Energy from a “d+” rating to a “c” rating in a research report on Friday, November 19th.

Shares of PFIE stock opened at $1.25 on Wednesday. The stock has a market capitalization of $60.13 million, a PE ratio of -62.50 and a beta of 1.32. Profire Energy has a 1-year low of $0.79 and a 1-year high of $1.74. The business has a 50-day moving average of $1.17 and a 200 day moving average of $1.13.

Profire Energy (NASDAQ:PFIE) last released its quarterly earnings results on Wednesday, November 3rd. The oil and gas company reported ($0.01) EPS for the quarter, meeting analysts’ consensus estimates of ($0.01). Profire Energy had a negative return on equity of 1.89% and a negative net margin of 3.59%. During the same quarter last year, the business posted ($0.02) earnings per share. Research analysts anticipate that Profire Energy will post -0.03 EPS for the current fiscal year.

Large investors have recently made changes to their positions in the company. Everett Harris & Co. CA raised its position in shares of Profire Energy by 21.4% in the 2nd quarter. Everett Harris & Co. CA now owns 735,930 shares of the oil and gas company’s stock worth $832,000 after acquiring an additional 129,740 shares in the last quarter. Millennium Management LLC bought a new position in Profire Energy during the 1st quarter valued at approximately $224,000. Goldman Sachs Group Inc. bought a new position in Profire Energy during the 1st quarter valued at approximately $35,000. Ameriprise Financial Inc. increased its position in Profire Energy by 4.7% during the 1st quarter. Ameriprise Financial Inc. now owns 2,471,295 shares of the oil and gas company’s stock valued at $2,718,000 after buying an additional 111,344 shares in the last quarter. Finally, Virtu Financial LLC bought a new position in Profire Energy during the 1st quarter valued at approximately $63,000. 36.29% of the stock is owned by hedge funds and other institutional investors.

Profire Energy Company Profile

Profire Energy, Inc engages in the manufacture of industrial combustion appliances. Its product categories include burner management, combustion control, waste management, fuel and gas train management, stands, pilots, burners, chemical management, flame arrestors, combustion equipment, accessories and components, and legacy.

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