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

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

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

Profire Energy Stock Performance

PFIE stock opened at $2.54 on Wednesday. Profire Energy has a 1 year low of $1.33 and a 1 year high of $2.55. The stock has a market capitalization of $117.35 million, a price-to-earnings ratio of 14.11 and a beta of 0.45. The stock’s fifty day moving average is $2.31 and its two-hundred day moving average is $1.82.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Royce & Associates LP raised its stake in shares of Profire Energy by 1.0% during 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 purchasing an additional 20,000 shares in the last quarter. Pacific Ridge Capital Partners LLC raised its position in shares of Profire Energy by 5.6% during 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 in the last quarter. Perritt Capital Management Inc lifted its stake in shares of 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 worth $477,000 after acquiring an additional 14,720 shares during the period. Jane Street Group LLC boosted its holdings 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 valued at $82,000 after acquiring an additional 38,230 shares in the last quarter. Finally, Virtu Financial LLC acquired a new position in shares of Profire Energy during the third quarter valued at approximately $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.