White Pine Capital LLC Has $128,000 Position in Profire Energy, Inc. (PFIE)

White Pine Capital LLC held its stake in shares of Profire Energy, Inc. (NASDAQ:PFIE) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 98,500 shares of the oil and gas company’s stock at the close of the 2nd quarter. White Pine Capital LLC owned about 0.20% of Profire Energy worth $128,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also modified their holdings of PFIE. Tocqueville Asset Management L.P. raised its position in shares of Profire Energy by 151.1% during the 2nd quarter. Tocqueville Asset Management L.P. now owns 1,730,500 shares of the oil and gas company’s stock valued at $2,250,000 after acquiring an additional 1,041,256 shares during the last quarter. Pacific Ridge Capital Partners LLC raised its position in shares of Profire Energy by 20.2% during the 1st quarter. Pacific Ridge Capital Partners LLC now owns 1,258,505 shares of the oil and gas company’s stock valued at $1,774,000 after acquiring an additional 211,920 shares during the last quarter. Finally, Renaissance Technologies LLC raised its position in shares of Profire Energy by 8.7% during the 1st quarter. Renaissance Technologies LLC now owns 341,460 shares of the oil and gas company’s stock valued at $481,000 after acquiring an additional 27,460 shares during the last quarter. Institutional investors own 19.78% of the company’s stock.

Separately, Zacks Investment Research upgraded shares of Profire Energy from a “hold” rating to a “buy” rating and set a $1.50 target price for the company in a research report on Thursday, July 6th.

Profire Energy, Inc. (NASDAQ:PFIE) opened at 1.59 on Tuesday. The stock has a 50 day moving average of $1.44 and a 200 day moving average of $1.37. Profire Energy, Inc. has a one year low of $1.08 and a one year high of $1.72. The firm has a market cap of $77.20 million, a price-to-earnings ratio of 24.09 and a beta of 1.65.

Profire Energy declared that its Board of Directors has authorized a share repurchase program on Friday, May 26th that permits the company to buyback $2.00 million in shares. This buyback authorization permits the oil and gas company to buy up to 2.7% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.

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About Profire Energy

Profire Energy, Inc is an oilfield technology company. The Company is primarily engaged in the business of developing combustion management technologies for the oil and gas industry. It specializes in the creation of burner-management systems, used on a range of oilfield natural-draft fire tube vessels.

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Institutional Ownership by Quarter for Profire Energy (NASDAQ:PFIE)

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