Profire Energy, Inc. (NASDAQ:PFIE) Short Interest Down 24.0% in December

Profire Energy, Inc. (NASDAQ:PFIE) experienced a 24.0% decrease in short interest in December, with 81,900 shares short sold as of December 15th. This decline from 107,800 shares on November 30th represents approximately 0.2% of the company's shares. The short-interest ratio is currently 0.1 days based on an average trading volume of 798,100 shares. Institutional investors own 38.51% of the stock, and analysts have set a target price of $2.55, with a "buy" rating from StockNews.com and a "hold" rating from Lake Street Capital.

Profire Energy, Inc. (NASDAQ:PFIE - Get Free Report) saw a significant drop in short interest in the month of December. As of December 15th, there was short interest totalling 81,900 shares, a drop of 24.0% from the November 30th total of 107,800 shares. Based on an average daily trading volume, of 798,100 shares, the days-to-cover ratio is currently 0.1 days. Approximately 0.2% of the shares of the company are short sold.

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Institutional Inflows and Outflows

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Hedge funds have recently modified their holdings of the company. Pacific Ridge Capital Partners LLC boosted its stake in shares of Profire Energy by 5.6% during the second quarter. Pacific Ridge Capital Partners LLC now owns 1,739,715 shares of the oil and gas company's stock valued at $2,470,000 after purchasing an additional 91,941 shares in the last quarter. Jane Street Group LLC lifted its stake in Profire Energy by 359.3% during 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 acquiring an additional 38,230 shares in the last quarter. Virtu Financial LLC bought a new position in shares of Profire Energy in the third quarter valued at approximately $46,000. Royce & Associates LP boosted its stake in Profire Energy by 1.0% in the third quarter. Royce & Associates LP now owns 2,032,361 shares of the oil and gas company's stock valued at $3,414,000 after acquiring an additional 20,000 shares during the last quarter. Finally, Perritt Capital Management Inc lifted its position in shares of Profire Energy by 4.6% during the 2nd quarter. Perritt Capital Management Inc now owns 335,800 shares of the oil and gas company's stock valued at $477,000 after buying an additional 14,720 shares during the last quarter. 38.51% of the stock is currently owned by institutional investors.

Profire Energy Stock Performance

Shares of NASDAQ:PFIE remained flat at $2.55 during midday trading on Friday. The stock had a trading volume of 94,553 shares, compared to its average volume of 354,307. Profire Energy has a 1-year low of $1.33 and a 1-year high of $2.55. The company has a market cap of $117.81 million, a PE ratio of 14.17 and a beta of 0.45. The business has a 50 day moving average of $2.42 and a two-hundred day moving average of $1.87.

Analysts Set New Price Targets

A number of analysts recently weighed in on PFIE shares. StockNews.com assumed coverage on shares of Profire Energy in a research note on Thursday. They set a "buy" rating on the stock. Lake Street Capital reiterated a "hold" rating and set a $2.55 target price on shares of Profire Energy in a research note on Wednesday, October 30th.

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About Profire Energy

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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.

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