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

Investment 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 reiterated a “hold” rating and set a $2.55 price target on shares of Profire Energy in a report on Wednesday, October 30th.

Profire Energy Price Performance

PFIE opened at $2.51 on Friday. Profire Energy has a twelve month low of $1.33 and a twelve month high of $2.52. The company has a 50-day simple moving average of $1.77 and a 200 day simple moving average of $1.64. The stock has a market capitalization of $117.54 million, a price-to-earnings ratio of 13.94 and a beta of 0.43.

Profire Energy (NASDAQ:PFIE) last posted its earnings results on Wednesday, August 7th. The oil and gas company reported $0.04 earnings per share for the quarter, topping analysts’ consensus estimates of $0.03 by $0.01. The firm had revenue of $15.16 million for the quarter. Profire Energy had a net margin of 15.22% and a return on equity of 15.34%. During the same period in the previous year, the firm earned $0.06 earnings per share.

Hedge Funds Weigh In On Profire Energy

A number of institutional investors and hedge funds have recently made changes to their positions in PFIE. Advisor Resource Council bought a new position in Profire Energy in the 2nd quarter valued at about $38,000. Williams & Novak LLC purchased a new stake in shares of Profire Energy during the 2nd quarter worth approximately $46,000. O Shaughnessy Asset Management LLC increased its stake in shares of Profire Energy by 16.1% during the 1st 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 during the last quarter. Perritt Capital Management Inc increased its stake 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 worth $477,000 after purchasing an additional 14,720 shares during the last quarter. Finally, Perkins Capital Management Inc. increased its stake in shares of Profire Energy by 0.9% during the 1st quarter. Perkins Capital Management Inc. now owns 945,520 shares of the oil and gas company’s stock worth $1,749,000 after purchasing an additional 8,788 shares during the last quarter. Institutional investors own 38.51% of the company’s stock.

About Profire Energy

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.