Profire Energy (NASDAQ:PFIE) Earns Buy Rating from Analysts at StockNews.com

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

Separately, Lake Street Capital restated a “hold” rating and issued a $2.55 price objective on shares of Profire Energy in a report on Wednesday, October 30th.

Profire Energy Stock Performance

Profire Energy stock opened at $2.54 on Friday. Profire Energy has a 12 month low of $1.33 and a 12 month high of $2.56. The business’s 50 day simple moving average is $2.49 and its 200 day simple moving average is $1.91. The company has a market cap of $117.35 million, a price-to-earnings ratio of 14.11 and a beta of 0.45.

Institutional Trading of Profire Energy

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

About Profire Energy

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.