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

Research analysts at StockNews.com began coverage on shares of Profire Energy (NASDAQ:PFIE) in a note issued to investors on Friday. 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 report on Wednesday, October 30th.

Profire Energy Price Performance

Shares of NASDAQ:PFIE opened at $2.54 on Friday. The company has a market capitalization of $117.35 million, a P/E ratio of 14.11 and a beta of 0.45. Profire Energy has a 1-year low of $1.33 and a 1-year high of $2.56. The firm’s 50 day simple moving average is $2.49 and its two-hundred day simple moving average is $1.91.

Hedge Funds Weigh In On Profire Energy

Several institutional investors have recently bought and sold shares of the business. Virtu Financial LLC bought a new position in shares of Profire Energy in the 3rd quarter valued at about $46,000. Jane Street Group LLC boosted its holdings in shares of 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 worth $82,000 after purchasing an additional 38,230 shares during the period. Perritt Capital Management Inc increased its position 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. Pacific Ridge Capital Partners LLC raised its holdings 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 valued at $2,470,000 after buying an additional 91,941 shares during the period. Finally, Royce & Associates LP boosted its stake 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 buying an additional 20,000 shares during the period. 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.