Brokerages Set Profire Energy, Inc. (NASDAQ:PFIE) Target Price at $4.50

Profire Energy, Inc. (NASDAQ:PFIE) has been assigned an average recommendation of “Hold” from the six ratings firms that are covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and two have given a buy recommendation to the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $4.50.

PFIE has been the topic of a number of research reports. ValuEngine lowered shares of Profire Energy from a “sell” rating to a “strong sell” rating in a research note on Thursday, August 8th. Chardan Capital reaffirmed a “hold” rating on shares of Profire Energy in a research note on Tuesday, May 14th. TheStreet lowered shares of Profire Energy from a “b-” rating to a “c+” rating in a research note on Tuesday, May 21st. Zacks Investment Research raised shares of Profire Energy from a “sell” rating to a “hold” rating in a research note on Tuesday, May 7th. Finally, Aegis initiated coverage on shares of Profire Energy in a research note on Monday, July 8th. They issued a “buy” rating and a $4.00 price target on the stock.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PFIE. Quantum Capital Management acquired a new stake in shares of Profire Energy during the 1st quarter worth approximately $93,000. Pacific Ridge Capital Partners LLC increased its holdings in Profire Energy by 59.2% in the 1st quarter. Pacific Ridge Capital Partners LLC now owns 795,647 shares of the oil and gas company’s stock valued at $1,424,000 after purchasing an additional 295,807 shares during the last quarter. FMR LLC increased its holdings in Profire Energy by 69.8% in the 4th quarter. FMR LLC now owns 1,577,898 shares of the oil and gas company’s stock valued at $2,288,000 after purchasing an additional 648,559 shares during the last quarter. Geode Capital Management LLC increased its holdings in Profire Energy by 3.0% in the 4th quarter. Geode Capital Management LLC now owns 309,857 shares of the oil and gas company’s stock valued at $449,000 after purchasing an additional 9,050 shares during the last quarter. Finally, Perkins Capital Management Inc. increased its holdings in Profire Energy by 1.4% in the 1st quarter. Perkins Capital Management Inc. now owns 478,750 shares of the oil and gas company’s stock valued at $857,000 after purchasing an additional 6,550 shares during the last quarter. 45.64% of the stock is currently owned by institutional investors and hedge funds.

Profire Energy stock traded up $0.05 during midday trading on Friday, reaching $1.42. The company had a trading volume of 127,700 shares, compared to its average volume of 175,562. The company has a market capitalization of $67.51 million, a P/E ratio of 11.83 and a beta of 1.80. Profire Energy has a 12-month low of $1.16 and a 12-month high of $3.64. The firm’s fifty day simple moving average is $1.46 and its 200-day simple moving average is $1.61.

Profire Energy (NASDAQ:PFIE) last issued its quarterly earnings results on Wednesday, August 7th. The oil and gas company reported $0.02 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.03 by ($0.01). The company had revenue of $10.12 million during the quarter, compared to analysts’ expectations of $11.05 million. Profire Energy had a net margin of 11.95% and a return on equity of 11.17%. On average, research analysts forecast that Profire Energy will post 0.14 earnings per share for the current fiscal year.

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 in North America. It assists energy production companies in the production and transportation of oil and natural gas. Its products include PF3100, a burner-management system, which is designed to operate, monitor, control, and manage various complex and multi-faceted oilfield appliances; safety and monitoring devices, such as shut-down and temperature valves, pressure transmitters and switches, burners, pilots, and other combustion related equipment; and chemical-management systems to monitor and manage chemical-injection process to ensure that optimal levels of chemicals are injected.

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