Profire Energy, Inc. (NASDAQ:PFIE) Sees Significant Increase in Short Interest

Profire Energy, Inc. (NASDAQ:PFIE) was the recipient of a significant growth in short interest during the month of August. As of August 31st, there was short interest totalling 113,900 shares, a growth of 43.8% from the August 15th total of 79,200 shares. Currently, 0.4% of the shares of the company are short sold. Based on an average trading volume of 90,400 shares, the short-interest ratio is presently 1.3 days.

Several research analysts have recently commented on PFIE shares. Dawson James started coverage on shares of Profire Energy in a report on Thursday, August 5th. They set a “buy” rating and a $1.65 target price on the stock. Zacks Investment Research cut shares of Profire Energy from a “hold” rating to a “sell” rating in a research note on Friday, August 6th.

PFIE remained flat at $$1.03 during midday trading on Monday. 74,230 shares of the company’s stock were exchanged, compared to its average volume of 292,557. The company has a market capitalization of $49.69 million, a PE ratio of -25.75 and a beta of 1.35. The business’s 50-day moving average price is $1.08 and its 200-day moving average price is $1.14. Profire Energy has a 52-week low of $0.63 and a 52-week high of $1.74.

Profire Energy (NASDAQ:PFIE) last released its earnings results on Wednesday, August 4th. The oil and gas company reported ($0.01) EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.01). Profire Energy had a negative net margin of 9.63% and a negative return on equity of 4.45%. Research analysts forecast that Profire Energy will post -0.03 EPS for the current fiscal year.

Hedge funds have recently made changes to their positions in the company. Citadel Advisors LLC purchased a new position in Profire Energy during the second quarter valued at approximately $33,000. Goldman Sachs Group Inc. purchased a new stake in Profire Energy in the first quarter worth about $35,000. Virtu Financial LLC purchased a new stake in Profire Energy in the first quarter worth about $63,000. Acadian Asset Management LLC purchased a new stake in shares of Profire Energy during the first quarter valued at about $76,000. Finally, State Street Corp acquired a new position in shares of Profire Energy during the second quarter valued at about $85,000. Hedge funds and other institutional investors own 36.40% of the company’s stock.

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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