On March 07, Profire Energy Inc. (PFIE) stock continued a bullish roll during both the regular and after-hours session. The company will be declaring its financial results for 2021 on March 09, at 8:30 am ET. The company’s co-CEO and CFO Ryan Oviatt along with co-CEO Cameron Tidball would engage in a Q&A session followed by the earnings discussion.
During the regular trading session on Monday, PFIE stock fluctuated between a high of $1.4490 and a low of $1.3000. The session witnessed a heavy volume of 2.5 million shares which was a huge 2,142% of the average 116.63K shares. The stock closed the session at a value of $1.3400 per share. Following this, PFIE continued to rise in the after-hours as it added a further 7.46%. Hence, the stock was trading at $1.4400 apiece in the after-hours on Monday.
More About PFIE & its Movement
Founded in 2003, Profire Energy Inc. manufactures industrial combustion appliances. With a huge array of products, the company operates through its U.S. and Canada geographical segments. The company also assists in the safe and efficient production and transportation of oil and natural gas. Based in Lindon, UT, PFIE has a market capitalization of $61.58 million. Currently, the company has 48.11 million shares outstanding in the market.
PFIE stock has vastly remained bullish over the larger course. With a year-to-date gain of 26.42%, the stock increased by 15.52% in the past year. Presently, the stock has added a value of 9.84% in the past five days. With the company’s earnings coming up in a day, the stock continued its bullish course on Monday. Given that there is no other official news or SEC filing, the stock seems to be gaining due to external factors. The market situation with hiking energy prices and sanctions on Russia also has a role to play as the company assists energy production companies.
Q3 2021 Financial Summary
On November 03, the company announced its Q3 2021 financial results.
In the third quarter of 2021, PFIE had total revenues of $6.9 million against $4.0 million in the year-ago period.
Moreover, the company reported a gross profit o $3.1 million for Q3 2021, against $1.5 million for the prior-year quarter.
PFIE had a net income of $92,246 or $0.0 per diluted share in Q3 2021, against a net loss of $1,057,748 or $0.02 per share in Q3 2020.
Additionally, the company ended the quarter with cash and liquid investments of $18.5 million.
