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

StockNews.com began coverage on shares of Profire Energy (NASDAQ:PFIE – Get Rating) in a report released on Sunday. The firm set a “hold” rating on the oil and gas company’s stock.

Several other research analysts have also commented on PFIE. Univest Sec upgraded shares of Profire Energy from a “hold” rating to a “buy” rating and upped their price objective for the stock from $1.25 to $2.00 in a report on Monday, March 14th. Dawson James increased their price target on shares of Profire Energy from $1.65 to $2.00 in a research note on Wednesday, March 9th. Finally, Zacks Investment Research upgraded shares of Profire Energy from a “hold” rating to a “buy” rating and set a $1.75 price target for the company in a research note on Thursday, March 10th. One analyst has rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Buy” and an average target price of $1.92.

Shares of NASDAQ PFIE opened at $1.36 on Friday. Profire Energy has a 12 month low of $0.88 and a 12 month high of $1.59. The firm has a fifty day simple moving average of $1.33 and a two-hundred day simple moving average of $1.21.

Profire Energy (NASDAQ:PFIE – Get Rating) last issued its quarterly earnings data on Wednesday, May 4th. The oil and gas company reported $0.01 EPS for the quarter, topping the consensus estimate of ($0.01) by $0.02. Profire Energy had a net margin of 0.58% and a return on equity of 0.40%. During the same period last year, the firm posted ($0.01) earnings per share. Equities research analysts expect that Profire Energy will post 0.04 EPS for the current year.

A number of hedge funds have recently made changes to their positions in the stock. Millennium Management LLC grew its position in Profire Energy by 26.8% during the 3rd quarter. Millennium Management LLC now owns 41,918 shares of the oil and gas company’s stock valued at $48,000 after purchasing an additional 8,870 shares during the last quarter. Essex Investment Management Co. LLC boosted its holdings in shares of Profire Energy by 2.5% during the 1st quarter. Essex Investment Management Co. LLC now owns 469,984 shares of the oil and gas company’s stock valued at $611,000 after acquiring an additional 11,461 shares during the last quarter. Everett Harris & Co. CA boosted its holdings in shares of Profire Energy by 1.3% during the 1st quarter. Everett Harris & Co. CA now owns 957,748 shares of the oil and gas company’s stock valued at $1,245,000 after acquiring an additional 12,350 shares during the last quarter. Pacific Ridge Capital Partners LLC boosted its holdings in shares of Profire Energy by 1.0% during the 1st quarter. Pacific Ridge Capital Partners LLC now owns 1,999,665 shares of the oil and gas company’s stock valued at $2,600,000 after acquiring an additional 20,491 shares during the last quarter. Finally, Citadel Advisors LLC purchased a new stake in shares of Profire Energy during the 2nd quarter valued at about $33,000. 40.38% of the stock is currently owned by institutional investors.

Profire Energy Company Profile (Get Rating)

Profire Energy, Inc, a technology company, provides 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. It also sells and installs its systems in Europe, South America, Africa, the Middle East, and Asia.

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