Short Interest in Profire Energy, Inc. (NASDAQ:PFIE) Grows By 30.5%

Profire Energy, Inc. (NASDAQ:PFIE) saw a large increase in short interest in the month of September. As of September 15th, there was short interest totalling 181,500 shares, an increase of 30.5% from the August 31st total of 139,100 shares. Based on an average daily volume of 115,500 shares, the days-to-cover ratio is presently 1.6 days. Approximately 0.6% of the shares of the company are sold short.

Separately, TheStreet cut shares of Profire Energy from a “c” rating to a “d+” rating in a research note on Thursday, August 20th.

PFIE stock traded down $0.01 during trading on Thursday, hitting $0.73. 551,322 shares of the stock traded hands, compared to its average volume of 106,817. Profire Energy has a 1 year low of $0.62 and a 1 year high of $2.02. The firm’s 50 day moving average is $0.74 and its two-hundred day moving average is $0.80. The stock has a market cap of $34.98 million, a price-to-earnings ratio of -18.50 and a beta of 1.36.

Profire Energy (NASDAQ:PFIE) last announced its quarterly earnings results on Wednesday, August 5th. The oil and gas company reported ($0.02) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.02). The firm had revenue of $4.36 million for the quarter. Profire Energy had a negative net margin of 6.05% and a negative return on equity of 3.89%.

In other news, major shareholder Harold Albert sold 157,316 shares of the company’s stock in a transaction dated Tuesday, September 8th. The shares were sold at an average price of $0.75, for a total value of $117,987.00. Following the sale, the insider now directly owns 429,217 shares of the company’s stock, valued at approximately $321,912.75. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 22.00% of the stock is currently owned by corporate insiders.

Several large investors have recently modified their holdings of PFIE. Marshall Wace LLP bought a new stake in Profire Energy during the 1st quarter worth approximately $134,000. FMR LLC raised its stake in Profire Energy by 27.5% during the 1st quarter. FMR LLC now owns 2,011,596 shares of the oil and gas company’s stock worth $3,601,000 after acquiring an additional 433,698 shares during the period. Cambridge Investment Research Advisors Inc. grew its holdings in Profire Energy by 11.0% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 363,741 shares of the oil and gas company’s stock valued at $286,000 after buying an additional 36,017 shares in the last quarter. Everett Harris & Co. CA purchased a new stake in Profire Energy during the 2nd quarter valued at approximately $210,000. Finally, Foundry Partners LLC grew its holdings in Profire Energy by 3.8% during the 2nd quarter. Foundry Partners LLC now owns 625,216 shares of the oil and gas company’s stock valued at $521,000 after buying an additional 22,896 shares in the last quarter. Hedge funds and other institutional investors own 40.91% 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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