Short Interest in Profire Energy, Inc. (NASDAQ:PFIE) Decreases By 21.7%

Profire Energy, Inc. (NASDAQ:PFIE) was the recipient of a large drop in short interest in the month of August. As of August 31st, there was short interest totalling 305,400 shares, a drop of 21.7% from the August 15th total of 389,800 shares. Approximately 0.9% of the company’s shares are short sold. Based on an average daily volume of 159,000 shares, the short-interest ratio is currently 1.9 days.

Analyst Upgrades and Downgrades

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

Profire Energy Price Performance

NASDAQ:PFIE remained flat at $1.47 on Friday. 217,282 shares of the company’s stock were exchanged, compared to its average volume of 194,702. The stock has a market cap of $68.84 million, a price-to-earnings ratio of 7.35 and a beta of 0.51. Profire Energy has a one year low of $1.33 and a one year high of $3.29. The business has a 50-day simple moving average of $1.62 and a two-hundred day simple moving average of $1.62.

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of PFIE. Vanguard Group Inc. grew its holdings in Profire Energy by 17.2% during the 1st quarter. Vanguard Group Inc. now owns 1,604,221 shares of the oil and gas company’s stock worth $2,968,000 after acquiring an additional 235,664 shares in the last quarter. AMH Equity Ltd lifted its position in shares of Profire Energy by 31.1% during the 1st quarter. AMH Equity Ltd now owns 500,000 shares of the oil and gas company’s stock worth $925,000 after purchasing an additional 118,550 shares during the last quarter. Pacific Ridge Capital Partners LLC lifted its position in shares of Profire Energy by 5.6% during the 2nd quarter. Pacific Ridge Capital Partners LLC now owns 1,739,715 shares of the oil and gas company’s stock worth $2,470,000 after purchasing an additional 91,941 shares during the last quarter. Everett Harris & Co. CA grew its stake in shares of Profire Energy by 4.0% during the first quarter. Everett Harris & Co. CA now owns 1,484,591 shares of the oil and gas company’s stock worth $2,746,000 after purchasing an additional 57,020 shares in the last quarter. Finally, Williams & Novak LLC purchased a new position in Profire Energy in the second quarter valued at $46,000. 38.51% of the stock is currently owned by hedge funds and other institutional investors.

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.