Profire Energy (NASDAQ:PFIE) Now Covered by Analysts at StockNews.com

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

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

Profire Energy Price Performance

Shares of PFIE stock opened at $2.54 on Tuesday. The stock has a market capitalization of $117.35 million, a PE ratio of 14.11 and a beta of 0.45. Profire Energy has a 1-year low of $1.33 and a 1-year high of $2.56. The business has a 50-day moving average of $2.54 and a 200 day moving average of $2.07.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of PFIE. Royce & Associates LP increased its stake in 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 worth $3,414,000 after buying an additional 20,000 shares in the last quarter. Trium Capital LLP purchased a new position in shares of Profire Energy in the 4th quarter worth approximately $2,296,000. ABC Arbitrage SA bought a new position in Profire Energy during the fourth quarter valued at $1,516,000. Jane Street Group LLC raised its position in Profire Energy by 359.3% in the 3rd quarter. Jane Street Group LLC now owns 48,870 shares of the oil and gas company’s stock worth $82,000 after purchasing an additional 38,230 shares during the period. Finally, Virtu Financial LLC bought a new stake in shares of Profire Energy during the 3rd quarter worth approximately $46,000. 38.51% of the stock is 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.