StockNews.com Begins Coverage on Profire Energy (NASDAQ:PFIE)

Stock analysts at StockNews.com began coverage on shares of Profire Energy (NASDAQ:PFIE) in a research note issued to investors on Thursday. The brokerage set a “buy” rating on the oil and gas company’s stock.

Separately, Lake Street Capital reaffirmed a “hold” rating and set a $2.55 target price on shares of Profire Energy in a research note on Wednesday, October 30th.

Profire Energy Trading Up 0.8 %

PFIE opened at $2.54 on Thursday. The company has a market cap of $117.35 million, a P/E ratio of 14.11 and a beta of 0.45. The company’s 50 day moving average is $2.39 and its 200-day moving average is $1.86. Profire Energy has a 1-year low of $1.33 and a 1-year high of $2.55.

Institutional Investors Weigh In On Profire Energy

Large investors have recently modified their holdings of the company. Pacific Ridge Capital Partners LLC lifted its position in shares of Profire Energy by 5.6% during the 2nd quarter. Pacific Ridge Capital Partners LLC now owns 1,739,715 shares of the oil and gas company’s stock valued at $2,470,000 after acquiring an additional 91,941 shares during the period. Jane Street Group LLC raised its holdings in shares of Profire Energy by 359.3% during the third quarter. Jane Street Group LLC now owns 48,870 shares of the oil and gas company’s stock valued at $82,000 after purchasing an additional 38,230 shares during the period. Virtu Financial LLC bought a new position in shares of Profire Energy during the 3rd quarter worth about $46,000. Royce & Associates LP grew its stake in shares of Profire Energy by 1.0% in the 3rd quarter. Royce & Associates LP now owns 2,032,361 shares of the oil and gas company’s stock valued at $3,414,000 after buying an additional 20,000 shares during the period. Finally, Perritt Capital Management Inc grew its stake in shares of Profire Energy by 4.6% in the 2nd quarter. Perritt Capital Management Inc now owns 335,800 shares of the oil and gas company’s stock valued at $477,000 after buying an additional 14,720 shares during the period. 38.51% of the stock is currently owned by institutional investors and hedge funds.

Profire Energy Company Profile

Profire Energy, Inc, a technology company, engages in the engineering and design of burner, and combustion management systems and solutions for natural and forced draft applications in the United States and Canada. It primarily focuses on the upstream, midstream, and downstream transmission segments of the oil and gas industry.