Profire Energy (NASDAQ:PFIE) Coverage Initiated by Analysts at StockNews.com

StockNews.com assumed coverage on shares of Profire Energy (NASDAQ:PFIE) in a research report report published on Friday morning. The brokerage 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 target on shares of Profire Energy in a report on Wednesday, October 30th.

Profire Energy Stock Performance

PFIE stock opened at $2.54 on Friday. The firm has a 50 day moving average of $2.51 and a 200-day moving average of $1.91. The firm 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 12 month low of $1.33 and a 12 month high of $2.56.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Perritt Capital Management Inc increased its stake in Profire Energy by 4.6% in the second quarter. Perritt Capital Management Inc now owns 335,800 shares of the oil and gas company’s stock valued at $477,000 after acquiring an additional 14,720 shares during the last quarter. Royce & Associates LP boosted its holdings 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 purchasing an additional 20,000 shares in the last quarter. Virtu Financial LLC bought a new position in shares of Profire Energy during the 3rd quarter valued at about $46,000. Jane Street Group LLC raised its holdings in shares of Profire Energy by 359.3% during the 3rd quarter. Jane Street Group LLC now owns 48,870 shares of the oil and gas company’s stock valued at $82,000 after buying an additional 38,230 shares in the last quarter. Finally, Pacific Ridge Capital Partners LLC lifted its position in Profire Energy by 5.6% in the 2nd quarter. Pacific Ridge Capital Partners LLC now owns 1,739,715 shares of the oil and gas company’s stock worth $2,470,000 after buying an additional 91,941 shares during the last quarter. Hedge funds and other 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.