Short Interest in Profire Energy, Inc. (NASDAQ:PFIE) Declines By 17.6%

Profire Energy, Inc. (NASDAQ:PFIE) was the recipient of a large decrease in short interest in 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. Based on an average daily volume of 700,500 shares, the short-interest ratio is currently 0.2 days. Approximately 0.4% of the shares of the company are short sold.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Advisor Resource Council acquired a new stake in Profire Energy in the second quarter valued at $38,000. Williams & Novak LLC bought a new stake in shares of Profire Energy in the 2nd quarter valued at about $46,000. Jane Street Group LLC raised its holdings in shares of Profire Energy by 359.3% in the 3rd quarter. Jane Street Group LLC now owns 48,870 shares of the oil and gas company’s stock valued at $82,000 after purchasing an additional 38,230 shares during the period. O Shaughnessy Asset Management LLC lifted its stake in Profire Energy by 16.1% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 175,795 shares of the oil and gas company’s stock valued at $325,000 after purchasing an additional 24,376 shares during the last quarter. Finally, Perritt Capital Management Inc grew its holdings in Profire Energy by 4.6% during the second quarter. Perritt Capital Management Inc now owns 335,800 shares of the oil and gas company’s stock worth $477,000 after purchasing an additional 14,720 shares during the period. 38.51% of the stock is owned by institutional investors and hedge funds.

Profire Energy Price Performance

Profire Energy stock remained flat at $2.52 during midday trading on Friday. The company had a trading volume of 305,152 shares, compared to its average volume of 349,452. Profire Energy has a 1-year low of $1.33 and a 1-year high of $2.52. The company’s fifty day moving average is $1.87 and its two-hundred day moving average is $1.67. The stock has a market capitalization of $116.19 million, a PE ratio of 13.97 and a beta of 0.43.

Wall Street Analyst Weigh In

PFIE has been the topic of a number of recent analyst reports. StockNews.com initiated coverage on shares of Profire Energy in a research report on Saturday. They issued a “buy” rating on the stock. Lake Street Capital reiterated a “hold” rating and issued a $2.55 price objective on shares of Profire Energy in a research report on Wednesday, October 30th.

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.