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

Stock analysts at StockNews.com started coverage on shares of Profire Energy (NASDAQ:PFIE) in a research note issued on Friday. The firm 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 research report on Wednesday, October 30th.

Profire Energy Price Performance

PFIE stock opened at $2.54 on Friday. 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 fifty-two week low of $1.33 and a fifty-two week high of $2.56. The company has a 50 day moving average price of $2.51 and a 200 day moving average price of $1.92.

Hedge Funds Weigh In On Profire Energy

Institutional investors and hedge funds have recently modified their holdings of the stock. Royce & Associates LP grew its position 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 purchasing an additional 20,000 shares in the last quarter. Pacific Ridge Capital Partners LLC boosted its stake in 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 valued at $2,470,000 after buying an additional 91,941 shares in the last quarter. Perritt Capital Management Inc grew its holdings in shares of Profire Energy by 4.6% during 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 purchasing an additional 14,720 shares during the last quarter. Jane Street Group LLC boosted its holdings 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 valued at $82,000 after acquiring an additional 38,230 shares in the last quarter. Finally, Virtu Financial LLC bought a new stake in Profire Energy during the 3rd quarter worth approximately $46,000. 38.51% of the stock is currently owned by institutional investors and hedge funds.

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.