Profire Energy (NASDAQ:PFIE) Coverage Initiated at StockNews.com

Equities researchers at StockNews.com initiated coverage on shares of Profire Energy (NASDAQ:PFIE) in a research note 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 set 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 opened at $2.54 on Friday. Profire Energy has a fifty-two week low of $1.33 and a fifty-two week high of $2.56. The firm has a 50-day simple moving average of $2.53 and a 200-day simple moving average of $2.01. The company has a market capitalization of $117.35 million, a price-to-earnings ratio of 14.11 and a beta of 0.45.

Institutional Trading of Profire Energy

A number of large investors have recently made changes to their positions in PFIE. Virtu Financial LLC purchased a new stake in shares of Profire Energy in the third quarter valued at $46,000. Jane Street Group LLC grew its holdings 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 valued at $82,000 after buying an additional 38,230 shares during the period. Trium Capital LLP acquired a new position in shares of Profire Energy during the 4th quarter valued at about $2,296,000. Pacific Ridge Capital Partners LLC lifted its holdings in shares of Profire Energy by 5.6% during the 2nd 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 acquiring an additional 91,941 shares during the period. Finally, Royce & Associates LP grew 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 valued at $3,414,000 after purchasing an additional 20,000 shares during the period. Institutional investors and hedge funds 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.