Brenton W. Hatch Sells 200,000 Shares of Profire Energy, Inc. (PFIE) Stock
Profire Energy, Inc. (NASDAQ:PFIE) CEO Brenton W. Hatch sold 200,000 shares of the business’s stock in a transaction dated Thursday, May 25th. The shares were sold at an average price of $1.35, for a total value of $270,000.00. Following the completion of the sale, the chief executive officer now directly owns 13,850,000 shares of the company’s stock, valued at $18,697,500. The sale was disclosed in a legal filing with the SEC, which is available through this link.
Shares of Profire Energy, Inc. (NASDAQ:PFIE) traded up 3.50% during mid-day trading on Monday, reaching $1.48. The company had a trading volume of 230,646 shares. The firm has a 50-day moving average of $1.33 and a 200-day moving average of $1.33. The company has a market capitalization of $74.33 million, a P/E ratio of 67.27 and a beta of 1.54. Profire Energy, Inc. has a 12-month low of $0.95 and a 12-month high of $1.72.
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Institutional investors have recently added to or reduced their stakes in the company. Geode Capital Management LLC increased its position in Profire Energy by 13.7% in the first quarter. Geode Capital Management LLC now owns 127,981 shares of the oil and gas company’s stock worth $180,000 after buying an additional 15,399 shares during the last quarter. Ladenburg Thalmann Financial Services Inc. bought a new position in Profire Energy during the fourth quarter worth about $187,000. Renaissance Technologies LLC increased its position in Profire Energy by 49.4% in the fourth quarter. Renaissance Technologies LLC now owns 314,000 shares of the oil and gas company’s stock worth $433,000 after buying an additional 103,800 shares during the last quarter. Beck Mack & Oliver LLC bought a new position in Profire Energy during the first quarter worth about $494,000. Finally, Perkins Capital Management Inc. increased its position in Profire Energy by 37.4% in the first quarter. Perkins Capital Management Inc. now owns 525,606 shares of the oil and gas company’s stock worth $741,000 after buying an additional 143,125 shares during the last quarter. 16.27% of the stock is owned by institutional investors.
Separately, Chardan Capital reaffirmed a “buy” rating and issued a $2.15 target price (up from $2.00) on shares of Profire Energy in a research report on Monday, March 13th.
Profire Energy Company Profile
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. It specializes in the creation of burner-management systems, used on a range of oilfield natural-draft fire tube vessels.
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