Profire Energy (NASDAQ:PFIE) Stock Passes Below 200-Day Moving Average – Should You Sell?

by · The Markets Daily

Profire Energy, Inc. (NASDAQ:PFIE – Get Free Report)’s share price passed below its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $1.60 and traded as low as $1.50. Profire Energy shares last traded at $1.62, with a volume of 189,287 shares traded.

Wall Street Analysts Forecast Growth

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

View Our Latest Research Report on Profire Energy

Profire Energy Stock Up 3.6 %

The company’s 50-day moving average is $1.64 and its 200-day moving average is $1.60. The stock has a market capitalization of $81.48 million, a price-to-earnings ratio of 9.33 and a beta of 0.49.

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

Institutional Investors Weigh In On Profire Energy

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Advisor Resource Council acquired a new stake in Profire Energy in the 2nd quarter valued at approximately $38,000. Williams & Novak LLC purchased a new stake in shares of Profire Energy in the 2nd quarter valued at $46,000. O Shaughnessy Asset Management LLC raised its holdings in shares of Profire Energy by 16.1% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 175,795 shares of the oil and gas company’s stock valued at $325,000 after buying an additional 24,376 shares during the period. Perritt Capital Management Inc lifted its stake in Profire Energy by 4.6% during the 2nd quarter. Perritt Capital Management Inc now owns 335,800 shares of the oil and gas company’s stock worth $477,000 after acquiring an additional 14,720 shares in the last quarter. Finally, AMH Equity Ltd boosted its holdings in 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 valued at $925,000 after acquiring an additional 118,550 shares during the period. 38.51% of the stock is owned by hedge funds and other institutional investors.

Profire Energy Company Profile

(Get Free Report)

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.

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