The stock of Profire Energy, Inc. (NASDAQ:PFIE) is now priced at $0.8 and the shares are -0.03 points down or -3.25% lower compared to its previous closing price of $0.83. The stock had 100141 contracts set over the past session. PFIE shares’ daily volume is compared to its average trading volume at 121611 shares. However, it has a float of 31.51 million and although its performance was 10.02% over the week, it’s one to watch. PFIE share price recently placing at $0.7602 to $0.85. However, some brokerage firms have priced the stock below the average, including one that has called $3.
The shorts are running away from the Profire Energy, Inc. stock, with the latest data on short interest released on June 30, 2020, showing that short interest numbers in the PFIE shares have declined. Short interest in the stock represents just 0.44% of its float, but the volume has dropped by -28264. The volume of shorted shares dropped to 138163 from 166427 shares over the last two weeks. The average intraday trading volume has been 99964 shares, which means that days to cover moved to roughly 1.382128.
In the last trading session, Profire Energy, Inc. (NASDAQ:PFIE) raised by $0.0731 over the week and lost -$0.0772 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $2.02. The stock recorded its established 52-week high on 10/23/19.
Since 03/20/20, the stock has traded to a low of $0.6248 at 28.51%, an encouraging piece of data likely to interest most investors out to exploit the stock’s recent surge. The stock has a beta allocation of 1.38. Being above 1 means that the stock’s volatility is higher than the market and traders are keenly watching it.
Looking at current readings, Profire Energy, Inc.’s two-week RSI is 50.48. This suggests that the stock is neutral at the moment and that PFIE shares’ price movement remains stable. The stochastic readings are equally revealing at 59.6% meaning the PFIE share price is currently in neutral territory.
The technical chart shows that the PFIE stock will likely settle at between $0.8285 and $0.8542 per share. However, if the stock dips below $0.7786, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $0.7544.
Currently, the stock is trading in the green of MACD, with a reading of 0.0515. Investors always pay attention to any move above or below the zero-line, mainly because the indicator points to the position of the stock’s short-term average relative to its long-term measure. A MACD -a reading above the zero line means that the short-term is above the long-term average. This scenario implies that there is an upward momentum. The opposite is true when the MACD falls below the zero-line.
Analysts at Chardan Capital Markets cut their recommendation for PFIE from Buy to Neutral in March 12 review. ROTH Capital analysts see the stock as a Buy with a target price of $ in a flash note released to investors on March 02 resuming covering the stock. Chardan Capital Markets analysts see the stock as Buy. Nonetheless, the analysts revised the share prices up on March 13, placing it at $2.15 from $2.
The average rating for the PFIE equity is 2.5 and is currently gathering a bullish momentum. Of 2 analysts tracking Profire Energy, Inc. polled by Reuters, 1 rated PFIE as a hold. The remaining 1 analysts were split evenly. However, the split wasn’t equal as a majority (1) rated it as a buy or strong buy. 0 analyst advised investors against buying the stock or to sell if they own any of the stock.
Elsewhere, the PFIE stock price is 14.6X ahead of its 12-month Consensus earnings per share estimates.
Zacks Consensus Estimate forecasts that the current-quarter revenues for Profire Energy, Inc. (NASDAQ:PFIE) will decrease by about -99.91%, which will see them reach $6.7 million. The company’s full-year revenues are, however, expected to diminish by about -24.32%, down from $38.98 million to $29.5 million. PFIE’s expected adjusted earnings should drop almost -100% to end up at $0 per share, while for the fiscal year, analysts project the company’s earnings to drop by about -25% to record $0.03/share.