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. “
PFIE has been the subject of a number of other reports. ValuEngine cut Profire Energy from a sell rating to a strong sell rating in a report on Thursday, August 8th. TheStreet cut Profire Energy from a b- rating to a c+ rating in a report on Tuesday, May 21st. Finally, Aegis assumed coverage on Profire Energy in a report on Monday, July 8th. They issued a buy rating and a $4.00 target price for the company. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and two have issued a buy rating to the company’s stock. The stock has an average rating of Hold and a consensus price target of $3.92.
Profire Energy (NASDAQ:PFIE) last issued its earnings results on Wednesday, August 7th. The oil and gas company reported $0.02 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.03 by ($0.01). Profire Energy had a return on equity of 11.17% and a net margin of 11.95%. The company had revenue of $10.12 million during the quarter, compared to analyst estimates of $11.05 million. As a group, sell-side analysts expect that Profire Energy will post 0.09 earnings per share for the current year.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PFIE. Deutsche Bank AG grew its position in Profire Energy by 397.3% during the 4th quarter. Deutsche Bank AG now owns 240,586 shares of the oil and gas company’s stock worth $348,000 after acquiring an additional 192,211 shares during the last quarter. Penn Capital Management Co. Inc. grew its position in Profire Energy by 5.5% during the 1st quarter. Penn Capital Management Co. Inc. now owns 211,643 shares of the oil and gas company’s stock worth $379,000 after acquiring an additional 11,001 shares during the last quarter. Cadence Capital Management LLC grew its position in Profire Energy by 1.8% during the 1st quarter. Cadence Capital Management LLC now owns 720,322 shares of the oil and gas company’s stock worth $1,289,000 after acquiring an additional 12,880 shares during the last quarter. Acadian Asset Management LLC grew its position in Profire Energy by 8.4% during the 1st quarter. Acadian Asset Management LLC now owns 245,662 shares of the oil and gas company’s stock worth $440,000 after acquiring an additional 19,083 shares during the last quarter. Finally, Pacific Ridge Capital Partners LLC grew its position in Profire Energy by 59.2% during the 1st quarter. Pacific Ridge Capital Partners LLC now owns 795,647 shares of the oil and gas company’s stock worth $1,424,000 after acquiring an additional 295,807 shares during the last quarter. Institutional investors and hedge funds own 41.21% of the company’s stock.
Profire Energy Company Profile
Profire Energy, Inc, an oilfield technology company, provides burner- and chemical-management products and services for the oil and gas industry in North America. It assists energy production companies in the production and transportation of oil and natural gas. Its products include PF3100, a burner-management system, which is designed to operate, monitor, control, and manage various complex and multi-faceted oilfield appliances; safety and monitoring devices, such as shut-down and temperature valves, pressure transmitters and switches, burners, pilots, and other combustion related equipment; and chemical-management systems to monitor and manage chemical-injection process to ensure that optimal levels of chemicals are injected.
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