Profire Energy (NASDAQ:PFIE) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report released on Tuesday.

According to Zacks, “Profire Energy, Inc. manufactures, installs and services oilfield combustion management systems and related burner products. The Company’s products aid oil and natural gas producers in the safe and efficient development and transportation of carbon-based fuels. Its products include Profire 2100 and the Profire 1100, Profire 1100i and fuel-trains or valve-trains, which comprise piping, valves, and controls related to the process of providing fuel to burners, as well as having safety controllers to monitor operations. Profire Energy, Inc. is based in Lindon, Utah. “

Separately, Chardan Capital lifted their price objective on Profire Energy from $2.30 to $2.50 and gave the stock a “buy” rating in a research report on Friday, November 10th.

Profire Energy (NASDAQ:PFIE) remained flat at $$1.90 during trading hours on Tuesday. The company’s stock had a trading volume of 27,900 shares, compared to its average volume of 51,867. The firm has a market cap of $92.00, a price-to-earnings ratio of 27.15 and a beta of 1.65. Profire Energy has a 1 year low of $1.11 and a 1 year high of $2.25.

Profire Energy (NASDAQ:PFIE) last released its quarterly earnings results on Wednesday, November 8th. The oil and gas company reported $0.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.03 by ($0.01). Profire Energy had a return on equity of 8.96% and a net margin of 10.88%. equities research analysts predict that Profire Energy will post 0.08 earnings per share for the current year.

Institutional investors have recently bought and sold shares of the stock. Castleton Investment Management LLC purchased a new stake in Profire Energy during the 4th quarter worth about $1,137,000. Essex Investment Management Co. LLC purchased a new stake in Profire Energy during the 3rd quarter worth about $429,000. Beck Mack & Oliver LLC purchased a new stake in Profire Energy during the 1st quarter worth about $494,000. Royce & Associates LLC increased its position in Profire Energy by 45.6% during the 4th quarter. Royce & Associates LLC now owns 2,752,041 shares of the oil and gas company’s stock worth $2,725,000 after purchasing an additional 861,900 shares in the last quarter. Finally, Ladenburg Thalmann Financial Services Inc. purchased a new stake in Profire Energy during the 4th quarter worth about $187,000. Hedge funds and other institutional investors own 20.20% of the company’s stock.

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Profire Energy Company Profile

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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