Profire Energy (NASDAQ:PFIE) Now Covered by StockNews.com

Stock analysts at StockNews.com initiated coverage on shares of Profire Energy (NASDAQ:PFIE) in a report released on Wednesday. The firm set a “buy” rating on the oil and gas company’s stock.

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

Profire Energy Price Performance

NASDAQ:PFIE opened at $2.53 on Wednesday. The company has a 50 day moving average price of $2.27 and a 200-day moving average price of $1.81. Profire Energy has a 1-year low of $1.33 and a 1-year high of $2.55. The firm has a market cap of $116.89 million, a price-to-earnings ratio of 14.06 and a beta of 0.45.

Institutional Investors Weigh In On Profire Energy

Institutional investors have recently added to or reduced their stakes in the stock. Perritt Capital Management Inc lifted its stake 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 buying an additional 14,720 shares in the last quarter. Pacific Ridge Capital Partners LLC raised its holdings in shares of Profire Energy by 5.6% during the second 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 acquiring an additional 91,941 shares during the last quarter. Royce & Associates LP lifted its position 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 acquiring an additional 20,000 shares in the last quarter. Jane Street Group LLC boosted its stake in shares of Profire Energy by 359.3% in the third quarter. Jane Street Group LLC now owns 48,870 shares of the oil and gas company’s stock worth $82,000 after acquiring an additional 38,230 shares during the last quarter. Finally, Virtu Financial LLC purchased a new stake in shares of Profire Energy during the third quarter worth approximately $46,000. Institutional investors and hedge funds 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.