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Cortina Asset Management LLC Reduces Position in Profire Energy, Inc. (NASDAQ:PFIE)

By August 17, 2019 No Comments

Cortina Asset Management LLC trimmed its stake in shares of Profire Energy, Inc. (NASDAQ:PFIE) by 0.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,287,709 shares of the oil and gas company’s stock after selling 9,361 shares during the period. Cortina Asset Management LLC owned approximately 2.72% of Profire Energy worth $1,944,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in PFIE. FMR LLC raised its stake in shares of Profire Energy by 69.8% during the fourth quarter. FMR LLC now owns 1,577,898 shares of the oil and gas company’s stock worth $2,288,000 after buying an additional 648,559 shares during the last quarter. Pacific Ridge Capital Partners LLC boosted its holdings in Profire Energy by 59.2% during the first quarter. Pacific Ridge Capital Partners LLC now owns 795,647 shares of the oil and gas company’s stock worth $1,424,000 after purchasing an additional 295,807 shares during the last quarter. Foundry Partners LLC acquired a new position in Profire Energy during the first quarter worth $452,000. Deutsche Bank AG boosted its holdings in Profire Energy by 397.3% during the fourth quarter. Deutsche Bank AG now owns 240,586 shares of the oil and gas company’s stock worth $348,000 after purchasing an additional 192,211 shares during the last quarter. Finally, Lapides Asset Management LLC acquired a new position in Profire Energy during the first quarter worth $277,000. Institutional investors own 45.64% of the company’s stock.

NASDAQ:PFIE traded up $0.05 during mid-day trading on Friday, reaching $1.42. 127,700 shares of the company’s stock were exchanged, compared to its average volume of 175,562. Profire Energy, Inc. has a one year low of $1.16 and a one year high of $3.64. The firm has a market capitalization of $67.51 million, a PE ratio of 11.83 and a beta of 1.80. The business’s fifty day simple moving average is $1.46 and its two-hundred day simple moving average is $1.61.

Profire Energy (NASDAQ:PFIE) last released its earnings results on Wednesday, August 7th. The oil and gas company reported $0.02 EPS for the quarter, missing the consensus estimate of $0.03 by ($0.01). Profire Energy had a net margin of 11.95% and a return on equity of 11.17%. The firm had revenue of $10.12 million during the quarter, compared to the consensus estimate of $11.05 million. As a group, analysts expect that Profire Energy, Inc. will post 0.14 earnings per share for the current fiscal year.

A number of analysts have commented on PFIE shares. Zacks Investment Research upgraded shares of Profire Energy from a “sell” rating to a “hold” rating in a research note on Tuesday, May 7th. Chardan Capital reiterated a “hold” rating on shares of Profire Energy in a research note on Tuesday, May 14th. ValuEngine cut shares of Profire Energy from a “sell” rating to a “strong sell” rating in a research note on Thursday, August 8th. Aegis started coverage on shares of Profire Energy in a research note on Monday, July 8th. They issued a “buy” rating and a $4.00 price target for the company. Finally, TheStreet lowered shares of Profire Energy from a “b-” rating to a “c+” rating in a research report on Tuesday, May 21st. One analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $3.92.

Profire Energy 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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Institutional Ownership by Quarter for Profire Energy (NASDAQ:PFIE)

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