Profire Energy, Inc. (PFIE) Cut to Hold at Zacks Investment Research

Profire Energy, Inc. (NASDAQ:PFIE) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a research report issued to clients and investors on Wednesday.

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. “

Profire Energy (NASDAQ:PFIE) opened at 1.92 on Wednesday. The company has a market capitalization of $93.22 million, a PE ratio of 29.09 and a beta of 1.72. Profire Energy has a 52 week low of $1.08 and a 52 week high of $2.02. The firm has a 50-day moving average of $1.73 and a 200-day moving average of $1.44.

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A hedge fund recently raised its stake in Profire Energy stock. Renaissance Technologies LLC boosted its holdings in shares of Profire Energy, Inc. (NASDAQ:PFIE) by 8.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 341,460 shares of the oil and gas company’s stock after acquiring an additional 27,460 shares during the quarter. Renaissance Technologies LLC owned 0.67% of Profire Energy worth $481,000 at the end of the most recent quarter. 19.78% of the stock is owned by institutional investors.

About Profire Energy

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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