Profire Energy, Inc. (NASDAQ:PFIE) Short Interest Down 17.6% in October

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

Analyst Ratings Changes

Several equities research analysts have weighed in on the stock. Lake Street Capital reiterated a “hold” rating and issued a $2.55 target price on shares of Profire Energy in a report on Wednesday, October 30th. StockNews.com assumed coverage on Profire Energy in a research note on Friday, November 8th. They set a “buy” rating on the stock.

Hedge Funds Weigh In On Profire Energy

Several hedge funds have recently modified their holdings of the stock. Jane Street Group LLC increased its position 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 worth $82,000 after purchasing an additional 38,230 shares during the last quarter. Royce & Associates LP increased its holdings in Profire Energy by 1.0% during the third quarter. Royce & Associates LP now owns 2,032,361 shares of the oil and gas company’s stock worth $3,414,000 after buying an additional 20,000 shares during the last quarter. Pacific Ridge Capital Partners LLC lifted its stake in Profire Energy by 5.6% in the second quarter. Pacific Ridge Capital Partners LLC now owns 1,739,715 shares of the oil and gas company’s stock valued at $2,470,000 after acquiring an additional 91,941 shares during the last quarter. Perritt Capital Management Inc grew its position in shares of Profire Energy by 4.6% in the 2nd 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 during the period. Finally, Advisor Resource Council bought a new stake in shares of Profire Energy in the 2nd quarter valued at about $38,000. Institutional investors own 38.51% of the company’s stock.

Profire Energy Stock Performance

PFIE remained flat at $2.52 during trading on Friday. 305,117 shares of the company’s stock were exchanged, compared to its average volume of 349,452. The stock has a market capitalization of $116.42 million, a P/E ratio of 14.00 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 50 day moving average price is $1.85 and its two-hundred day moving average price is $1.66.

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.