Profire Energy (NASDAQ:PFIE) Stock Price Crosses Below Two Hundred Day Moving Average of $1.60

Profire Energy, Inc. (NASDAQ:PFIE)’s share price passed below its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $1.60 and traded as low as $1.55. Profire Energy shares last traded at $1.55, with a volume of 87,136 shares.

Wall Street Analysts Forecast Growth

Separately, StockNews.com lowered shares of Profire Energy from a “buy” rating to a “hold” rating in a research note on Thursday, June 27th.

Profire Energy Price Performance

The company has a market capitalization of $73.01 million, a price-to-earnings ratio of 7.75 and a beta of 0.50. The firm’s 50-day simple moving average is $1.49 and its two-hundred day simple moving average is $1.60.

Profire Energy (NASDAQ:PFIE) last announced its quarterly earnings results on Wednesday, May 8th. The oil and gas company reported $0.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.04 by ($0.01). Profire Energy had a net margin of 16.79% and a return on equity of 17.27%. The business had revenue of $13.64 million during the quarter, compared to analysts’ expectations of $14.10 million. On average, analysts expect that Profire Energy, Inc. will post 0.13 EPS for the current fiscal year.

Institutional Trading of Profire Energy

Several institutional investors and hedge funds have recently modified their holdings of the business. O Shaughnessy Asset Management LLC lifted its holdings in shares of Profire Energy by 16.1% in the first quarter. O Shaughnessy Asset Management LLC now owns 175,795 shares of the oil and gas company’s stock valued at $325,000 after purchasing an additional 24,376 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of Profire Energy by 17.2% in the first quarter. Vanguard Group Inc. now owns 1,604,221 shares of the oil and gas company’s stock valued at $2,968,000 after purchasing an additional 235,664 shares in the last quarter. Perkins Capital Management Inc. lifted its stake in shares of Profire Energy by 0.9% during the first quarter. Perkins Capital Management Inc. now owns 945,520 shares of the oil and gas company’s stock valued at $1,749,000 after buying an additional 8,788 shares during the period. Pacific Ridge Capital Partners LLC lifted its stake in shares of Profire Energy by 4.1% during the first quarter. Pacific Ridge Capital Partners LLC now owns 1,647,774 shares of the oil and gas company’s stock valued at $3,048,000 after buying an additional 64,304 shares during the period. Finally, AMH Equity Ltd lifted its stake in shares of Profire Energy by 31.1% during the first quarter. AMH Equity Ltd now owns 500,000 shares of the oil and gas company’s stock valued at $925,000 after buying an additional 118,550 shares during the period. Hedge funds and other institutional investors own 38.51% of the company’s stock.

About Profire Energy

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.