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

Equities research analysts at StockNews.com started coverage on shares of Profire Energy (NASDAQ:PFIE) in a report released on Thursday. The brokerage set a “buy” rating on the oil and gas company’s stock.

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

Profire Energy Stock Performance

Shares of PFIE opened at $2.55 on Thursday. The firm has a market cap of $117.81 million, a P/E ratio of 14.17 and a beta of 0.45. Profire Energy has a twelve month low of $1.33 and a twelve month high of $2.55. The firm’s 50 day moving average price is $2.41 and its two-hundred day moving average price is $1.87.

Institutional Investors Weigh In On Profire Energy

Institutional investors have recently bought and sold shares of the company. Perritt Capital Management Inc lifted its position in shares of 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 worth $477,000 after purchasing an additional 14,720 shares in the last quarter. Pacific Ridge Capital Partners LLC increased its stake 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 valued at $2,470,000 after buying an additional 91,941 shares during the last quarter. Royce & Associates LP lifted its position in Profire Energy by 1.0% during 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 buying an additional 20,000 shares in the last quarter. Jane Street Group LLC lifted its position in 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 worth $82,000 after buying an additional 38,230 shares in the last quarter. Finally, Virtu Financial LLC acquired a new position in shares of Profire Energy during the 3rd quarter worth about $46,000. 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.