SG Americas Securities LLC Reduces Stake in Profire Energy, Inc. (PFIE)
SG Americas Securities LLC reduced its position in Profire Energy, Inc. (NASDAQ:PFIE) by 0.0% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 150,000 shares of the oil and gas company’s stock after selling 10 shares during the period. SG Americas Securities LLC owned approximately 0.30% of Profire Energy worth $195,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Separately, Renaissance Technologies LLC lifted its position in Profire Energy by 8.7% during the first quarter. Renaissance Technologies LLC now owns 341,460 shares of the oil and gas company’s stock valued at $481,000 after purchasing an additional 27,460 shares in the last quarter. Hedge funds and other institutional investors own 19.78% of the company’s stock.
Separately, Zacks Investment Research upgraded Profire Energy from a “hold” rating to a “buy” rating and set a $1.50 target price on the stock in a research report on Thursday, July 6th.
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Profire Energy, Inc. (NASDAQ PFIE) opened at 1.85 on Thursday. The company’s 50-day moving average price is $1.52 and its 200 day moving average price is $1.39. Profire Energy, Inc. has a 52-week low of $1.08 and a 52-week high of $1.91. The stock has a market capitalization of $89.82 million, a P/E ratio of 28.03 and a beta of 1.65.
Profire Energy announced that its board has approved a stock repurchase plan on Friday, May 26th that allows the company to repurchase $2.00 million in outstanding shares. This repurchase authorization allows the oil and gas company to repurchase up to 2.7% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its shares are undervalued.
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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