Profire Energy, Inc. (NASDAQ:PFIE) was downgraded by stock analysts at Chardan Capital from a “buy” rating to a “neutral” rating in a research report issued on Wednesday, The Fly reports.

An institutional investor recently raised its position in Profire Energy stock. Pacific Ridge Capital Partners LLC boosted its position in Profire Energy, Inc. (NASDAQ:PFIE) by 6.1% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 939,230 shares of the company’s stock after buying an additional 54,180 shares during the period. Pacific Ridge Capital Partners LLC owned approximately 1.76% of Profire Energy worth $930,000 at the end of the most recent reporting period.

A number of other research firms have also recently commented on PFIE. Roth Capital started coverage on Profire Energy in a report on Tuesday, December 1st. They issued a “buy” rating and a $1.75 price objective on the stock. Zacks Investment Research upgraded Profire Energy from a “hold” rating to a “buy” rating and set a $1.25 price objective on the stock in a report on Tuesday, November 10th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $1.70.

Shares of Profire Energy (NASDAQ:PFIE) traded up 1.2486% on Wednesday, hitting $0.9082. The stock had a trading volume of 39,050 shares. The stock has a 50 day moving average of $0.95 and a 200 day moving average of $1.06. Profire Energy has a 12-month low of $0.76 and a 12-month high of $2.96. The firm has a market cap of $48.37 million and a price-to-earnings ratio of 27.5212.

Profire Energy (NASDAQ:PFIE) last posted its quarterly earnings results on Monday, November 9th. The company reported $0.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.02. The company earned $8.10 million during the quarter, compared to analysts’ expectations of $6.93 million. Profire Energy’s revenue for the quarter was down 48.4% on a year-over-year basis. During the same quarter last year, the company earned $0.04 earnings per share. Equities analysts predict that Profire Energy will post $0.02 earnings per share for the current fiscal year.

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. The Company specializes in the creation of burner-management systems, used on a range of oilfield natural-draft fire tube vessels, and primarily sells its products and services throughout North America. The Company designs, assembles, installs, services and sells oilfield-management technologies. It operates in the United States and Canada segments. Its flagship products are burner-management systems that monitor and manage burners found throughout the industry. The Company also sells related products, such as flare ignition systems, fuel train components, secondary air plates, valve actuators, solar packages and chemical-management systems. Its burner-management systems help ignite, monitor, and manage this burner flame. It also engaged in providing installation and maintenance services.

12 Month Chart for NASDAQ:PFIE

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