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

Stock analysts at StockNews.com started coverage on shares of Profire Energy (NASDAQ:PFIE) in a research note issued to investors on Thursday. 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 opened at $2.55 on Thursday. The company’s fifty day simple moving average is $2.41 and its 200 day simple moving average is $1.87. Profire Energy has a 1-year low of $1.33 and a 1-year high of $2.55. The company has a market cap of $117.81 million, a price-to-earnings ratio of 14.17 and a beta of 0.45.

Institutional Investors Weigh In On Profire Energy

Hedge funds have recently added to or reduced their stakes in the business. Virtu Financial LLC acquired a new position in shares of Profire Energy in the third quarter valued at $46,000. 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 worth $82,000 after buying an additional 38,230 shares during the period. Perritt Capital Management Inc grew its stake in Profire Energy by 4.6% in 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 buying an additional 14,720 shares during the last quarter. Pacific Ridge Capital Partners LLC raised its holdings 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, Royce & Associates LP lifted its position in Profire Energy by 1.0% during the third 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. Institutional investors and hedge funds own 38.51% of the company’s stock.

Profire Energy Company Profile

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.