Profire Energy, Inc. (NASDAQ:PFIE) Sees Large Decrease in Short Interest

Profire Energy, Inc. (NASDAQ:PFIE) was the target of a large decrease in short interest in December. As of December 31st, there was short interest totalling 800 shares, a decrease of 86.9% from the December 15th total of 6,100 shares. Based on an average daily volume of 106,900 shares, the days-to-cover ratio is presently 0.0 days.

In other Profire Energy news, major shareholder Harold Albert sold 113,529 shares of the stock in a transaction that occurred on Monday, November 9th. The shares were sold at an average price of $0.79, for a total value of $89,687.91. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 22.00% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in the stock. Perkins Capital Management Inc. purchased a new stake in Profire Energy during the 3rd quarter valued at $755,000. FMR LLC boosted its position in Profire Energy by 0.9% during the 2nd quarter. FMR LLC now owns 2,010,010 shares of the oil and gas company’s stock valued at $1,675,000 after buying an additional 17,000 shares during the period. Finally, Marshall Wace LLP purchased a new stake in Profire Energy during the 1st quarter valued at $134,000. 40.91% of the stock is currently owned by institutional investors.

Shares of NASDAQ:PFIE traded up $0.03 during trading on Wednesday, reaching $1.05. The company had a trading volume of 405 shares, compared to its average volume of 101,096. Profire Energy has a 12 month low of $0.62 and a 12 month high of $1.53. The company has a fifty day moving average of $0.89 and a two-hundred day moving average of $0.79. The stock has a market capitalization of $50.36 million, a P/E ratio of -25.50 and a beta of 1.31.

Profire Energy (NASDAQ:PFIE) last released its earnings results on Monday, November 16th. The oil and gas company reported ($0.02) EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.02). Profire Energy had a negative net margin of 6.05% and a negative return on equity of 3.89%. The company had revenue of $4.00 million for the quarter.

Separately, ValuEngine raised shares of Profire Energy from a “hold” rating to a “buy” rating in a report on Tuesday, November 17th.

Profire Energy Company Profile

Profire Energy, Inc, an oilfield technology company, provides burner-management products and services for the oil and gas industry in North America. The company assists energy production companies in the production, and transportation of oil and natural gas. Its products include PF3100, a burner and combustion management system, which is designed to operate, monitor, control, and manage various complex heated appliances; and safety and monitoring devices, such as shut-down and temperature valves, pressure transmitters and switches, burners, pilots, flame arrestor housings, and other combustion related equipment.

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