Profire Energy’s (PFIE) Buy Rating Reiterated at Maxim Group

Maxim Group reissued their buy rating on shares of Profire Energy (NASDAQ:PFIE) in a research report released on Friday, November 9th. The firm currently has a $5.00 price objective on the oil and gas company’s stock.

“Wednesday, after Market close, PFIE announced 3Q18 results with revenue of $11.5M, above our estimate of $10.7M, and EPS of $0.03, a penny above our estimate of $0.02.”,” Maxim Group’s analyst commented.

A number of other research firms also recently issued reports on PFIE. Zacks Investment Research upgraded Profire Energy from a sell rating to a hold rating in a research note on Tuesday, October 9th. ValuEngine downgraded Profire Energy from a hold rating to a sell rating in a research note on Thursday, November 1st. Finally, Roth Capital set a $5.00 target price on Profire Energy and gave the company a buy rating in a research note on Monday, August 6th.

Shares of PFIE traded up $0.07 during mid-day trading on Friday, reaching $2.03. The company’s stock had a trading volume of 280,300 shares, compared to its average volume of 355,717. Profire Energy has a 12-month low of $1.64 and a 12-month high of $5.30. The company has a market cap of $94.24 million, a P/E ratio of 22.44 and a beta of 1.73.

Profire Energy (NASDAQ:PFIE) last released its quarterly earnings data on Wednesday, November 7th. The oil and gas company reported $0.03 EPS for the quarter, meeting analysts’ consensus estimates of $0.03. The business had revenue of $11.50 million for the quarter, compared to the consensus estimate of $11.82 million. Profire Energy had a return on equity of 14.66% and a net margin of 14.29%. Analysts forecast that Profire Energy will post 0.14 EPS for the current year.

Hedge funds have recently made changes to their positions in the business. Tower Research Capital LLC TRC grew its stake in shares of Profire Energy by 420.6% in the 2nd quarter. Tower Research Capital LLC TRC now owns 29,911 shares of the oil and gas company’s stock valued at $101,000 after purchasing an additional 24,166 shares during the last quarter. Cubist Systematic Strategies LLC acquired a new stake in shares of Profire Energy in the 2nd quarter valued at approximately $133,000. Bank of Montreal Can lifted its holdings in shares of Profire Energy by 24,392.3% in the 3rd quarter. Bank of Montreal Can now owns 41,147 shares of the oil and gas company’s stock valued at $131,000 after buying an additional 40,979 shares during the period. Schwab Charles Investment Management Inc. acquired a new stake in shares of Profire Energy in the 2nd quarter valued at approximately $149,000. Finally, JPMorgan Chase & Co. lifted its holdings in shares of Profire Energy by 874.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 46,783 shares of the oil and gas company’s stock valued at $150,000 after buying an additional 41,980 shares during the period. Institutional investors own 44.13% of the company’s stock.

Profire Energy Company Profile

Profire Energy, Inc, an oilfield technology company, provides burner- and chemical-management products and services for the oil and gas industry primarily in the United States and Canada. It assists energy production companies in the production and transportation of oil and natural gas. The company offers burner-management systems to ignite, monitor, and manage the burner flames used in oilfield vessels, as well as complementary oilfield products, such as valves and fuel trains, airplates, solar packages, and flare stack igniters and nozzles.

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