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

Analysts at StockNews.com began coverage on shares of Profire Energy (NASDAQ:PFIE) in a report issued on Saturday. The firm set a “buy” rating on the oil and gas company’s stock.

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

Profire Energy Stock Performance

Shares of PFIE stock opened at $2.54 on Friday. Profire Energy has a 52-week low of $1.33 and a 52-week high of $2.56. The stock has a market cap of $117.35 million, a price-to-earnings ratio of 14.11 and a beta of 0.45. The firm’s 50-day moving average is $2.53 and its 200-day moving average is $1.95.

Institutional Investors Weigh In On Profire Energy

Several institutional investors have recently made changes to their positions in the stock. Pacific Ridge Capital Partners LLC increased its position in shares of Profire Energy by 5.6% in the second quarter. Pacific Ridge Capital Partners LLC now owns 1,739,715 shares of the oil and gas company’s stock worth $2,470,000 after purchasing an additional 91,941 shares during the period. Virtu Financial LLC acquired a new position in shares of Profire Energy in the 3rd quarter valued at approximately $46,000. Royce & Associates LP lifted its holdings in shares of Profire Energy by 1.0% during the 3rd 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 during the period. Finally, Jane Street Group LLC boosted its position in shares of Profire Energy by 359.3% during the 3rd quarter. Jane Street Group LLC now owns 48,870 shares of the oil and gas company’s stock worth $82,000 after acquiring an additional 38,230 shares in the last quarter. 38.51% of the stock is currently owned by 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.