Profire Energy (NASDAQ:PFIE) Earns Buy Rating from Analysts at StockNews.com

StockNews.com assumed coverage on shares of Profire Energy (NASDAQ:PFIE) in a research note published on Saturday. The firm issued 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 report on Wednesday, October 30th.

Profire Energy Price Performance

Shares of PFIE stock opened at $2.52 on Friday. Profire Energy has a one year low of $1.33 and a one year high of $2.52. The stock has a fifty day moving average price of $1.89 and a 200 day moving average price of $1.67. The stock has a market cap of $116.42 million, a P/E ratio of 14.00 and a beta of 0.43.

Hedge Funds Weigh In On Profire Energy

Several hedge funds and other institutional investors have recently modified their holdings of PFIE. Royce & Associates LP lifted its holdings in shares of 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 valued at $3,414,000 after acquiring an additional 20,000 shares during the period. Pacific Ridge Capital Partners LLC grew its position in 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 last quarter. Vanguard Group Inc. increased its holdings in Profire Energy by 17.2% during the 1st quarter. Vanguard Group Inc. now owns 1,604,221 shares of the oil and gas company’s stock valued at $2,968,000 after purchasing an additional 235,664 shares in the last quarter. Perritt Capital Management Inc raised its position 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 purchasing an additional 14,720 shares during the last quarter. Finally, O Shaughnessy Asset Management LLC boosted its stake in Profire Energy by 16.1% in the first quarter. O Shaughnessy Asset Management LLC now owns 175,795 shares of the oil and gas company’s stock worth $325,000 after purchasing an additional 24,376 shares in the last quarter. Institutional investors 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.