Profire Energy (PFIE) Gets a Hold Rating from Chardan Capital

By Jason Carr

Chardan Capital analyst James McIlree reiterated a Hold rating on Profire Energy (PFIEResearch Report) today. The company’s shares closed yesterday at $1.51, close to its 52-week low of $1.36.

McIlree said:

“We are adjusting our estimates for the company’s better than expected Q1 results. For the year, we are now projecting revenue of $45 million, about flat with last year and EBITDA of $7.4 million, down from $8.9 million in 2018.”

According to TipRanks.com, McIlree is a 1-star analyst with an average return of -4.0% and a 42.7% success rate. McIlree covers the Consumer Goods sector, focusing on stocks such as Foresight Autonomous Holdings Ltd, Vuzix Corporation, and KEYW Holding.

Currently, the analyst consensus on Profire Energy is a Moderate Buy with an average price target of $3.50.

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Based on Profire Energy’s latest earnings release for the quarter ending March 31, the company reported a quarterly net profit of $1.67 million. In comparison, last year the company had a net profit of $1.88 million.

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Profire Energy, Inc. engages in the development of burner-management technologies used on a oilfield natural-draft fire tube vessels in oil and gas industry. It offers line-heaters, dehydrators, separators, treaters, amine reboilers, and free-water knockout systems which facilitate the proper function of the vessel.