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

StockNews.com started coverage on shares of Profire Energy (NASDAQ:PFIE) in a report released on Wednesday morning. The brokerage issued a buy rating on the oil and gas company’s stock.

Separately, Lake Street Capital reissued a “hold” rating and set a $2.55 target price on shares of Profire Energy in a report on Wednesday, October 30th.

Profire Energy Stock Performance

PFIE stock opened at $2.54 on Wednesday. The firm’s 50-day moving average is $2.32 and its two-hundred day moving average is $1.83. The company has a market capitalization of $117.35 million, a price-to-earnings ratio of 14.11 and a beta of 0.45. Profire Energy has a 52 week low of $1.33 and a 52 week high of $2.55.

Institutional Investors Weigh In On Profire Energy

Several hedge funds and other institutional investors have recently bought and sold shares of PFIE. Perritt Capital Management Inc grew its stake in shares of 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 worth $477,000 after purchasing an additional 14,720 shares during the last quarter. Pacific Ridge Capital Partners LLC grew its position 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 worth $2,470,000 after buying an additional 91,941 shares during the last quarter. Royce & Associates LP increased its holdings in shares of 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 buying an additional 20,000 shares in the last quarter. Jane Street Group LLC lifted its position 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 during the last quarter. Finally, Virtu Financial LLC bought a new stake in shares of Profire Energy during the 3rd quarter worth $46,000. 38.51% of the stock is currently owned by institutional investors.

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.