Profire Energy, Inc. (NASDAQ:PFIE) Short Interest Update

Profire Energy, Inc. (NASDAQ:PFIE) was the recipient of a large drop in short interest during the month of October. As of October 31st, there was short interest totalling 146,000 shares, a drop of 17.6% from the October 15th total of 177,200 shares. Based on an average daily trading volume, of 700,500 shares, the short-interest ratio is currently 0.2 days. Currently, 0.4% of the company’s stock are short sold.

Institutional Investors Weigh In On Profire Energy

A number of institutional investors have recently modified their holdings of the stock. Advisor Resource Council acquired a new position in shares of Profire Energy during the 2nd quarter valued at $38,000. Williams & Novak LLC purchased a new stake in shares of Profire Energy in the second quarter worth approximately $46,000. Jane Street Group LLC grew its holdings in shares of Profire Energy by 359.3% during the 3rd quarter. Jane Street Group LLC now owns 48,870 shares of the oil and gas company’s stock valued at $82,000 after acquiring an additional 38,230 shares in the last quarter. O Shaughnessy Asset Management LLC increased its position in 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 worth $325,000 after purchasing an additional 24,376 shares during the last quarter. Finally, Perritt Capital Management Inc raised its position in Profire Energy by 4.6% during the second quarter. Perritt Capital Management Inc now owns 335,800 shares of the oil and gas company’s stock valued at $477,000 after acquiring an additional 14,720 shares in the last quarter. Institutional investors and hedge funds own 38.51% of the company’s stock.

Profire Energy Price Performance

Shares of PFIE remained flat at $2.52 on Friday. The company had a trading volume of 305,152 shares, compared to its average volume of 349,452. The stock has a market cap of $116.19 million, a price-to-earnings ratio of 13.97 and a beta of 0.43. Profire Energy has a 1-year low of $1.33 and a 1-year high of $2.52. The company’s fifty day moving average is $1.87 and its 200-day moving average is $1.67.

Analysts Set New Price Targets

A number of research firms recently issued reports on PFIE. StockNews.com started coverage on Profire Energy in a research note on Saturday. They set a “buy” rating on the stock. Lake Street Capital reaffirmed a “hold” rating and issued a $2.55 target price on shares of Profire Energy in a report on Wednesday, October 30th.

Profire Energy Company Profile

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.