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

Stock analysts at StockNews.com initiated coverage on shares of Profire Energy (NASDAQ:PFIE) in a research report issued on Sunday. 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 objective on shares of Profire Energy in a research report on Wednesday, October 30th.

Profire Energy Price Performance

PFIE stock opened at $2.52 on Friday. The firm has a market capitalization of $116.42 million, a PE ratio of 14.00 and a beta of 0.43. The stock’s 50 day moving average is $1.98 and its 200-day moving average is $1.69. Profire Energy has a twelve month low of $1.33 and a twelve month high of $2.52.

Hedge Funds Weigh In On Profire Energy

Several institutional investors have recently added to or reduced their stakes in PFIE. Virtu Financial LLC purchased a new stake in Profire Energy in the third quarter worth $46,000. Jane Street Group LLC grew its stake 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 during the period. Royce & Associates LP increased its holdings 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 acquiring an additional 20,000 shares during the last quarter. Pacific Ridge Capital Partners LLC raised its stake in Profire Energy by 5.6% in 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. Finally, Perritt Capital Management Inc lifted its holdings in Profire Energy by 4.6% during the second quarter. Perritt Capital Management Inc now owns 335,800 shares of the oil and gas company’s stock valued at $477,000 after purchasing an additional 14,720 shares during the last quarter. Institutional investors own 38.51% of the company’s stock.

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.