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

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

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

Profire Energy Price Performance

Shares of PFIE opened at $2.51 on Friday. Profire Energy has a 12 month low of $1.33 and a 12 month high of $2.52. The stock has a fifty day moving average price of $2.00 and a 200 day moving average price of $1.70. The company has a market cap of $115.96 million, a P/E ratio of 14.00 and a beta of 0.43.

Institutional Trading of Profire Energy

Several hedge funds have recently added to or reduced their stakes in PFIE. Perritt Capital Management Inc grew its position 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. Royce & Associates LP lifted its stake in shares of Profire Energy by 1.0% in the 3rd quarter. Royce & Associates LP now owns 2,032,361 shares of the oil and gas company’s stock worth $3,414,000 after acquiring an additional 20,000 shares during the period. O Shaughnessy Asset Management LLC boosted its holdings in shares of Profire Energy by 16.1% in the first quarter. O Shaughnessy Asset Management LLC now owns 175,795 shares of the oil and gas company’s stock valued at $325,000 after acquiring an additional 24,376 shares in the last quarter. Advisor Resource Council acquired a new position in shares of Profire Energy during the second quarter valued at approximately $38,000. Finally, Virtu Financial LLC bought a new stake in Profire Energy during the third quarter worth approximately $46,000. 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.