Profire Energy (NASDAQ:PFIE) Research Coverage Started at StockNews.com

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

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

Profire Energy Price Performance

NASDAQ 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. The stock’s 50-day moving average is $2.42 and its two-hundred day moving average is $1.87. Profire Energy has a fifty-two week low of $1.33 and a fifty-two week high of $2.55.

Institutional Investors Weigh In On Profire Energy

A number of hedge funds have recently bought and sold shares of PFIE. Virtu Financial LLC bought a new position in shares of Profire Energy in the third quarter worth about $46,000. Jane Street Group LLC lifted its holdings in shares of Profire Energy by 359.3% during the third 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 during the last quarter. Perritt Capital Management Inc lifted its holdings in shares of Profire Energy by 4.6% during the second quarter. Perritt Capital Management Inc now owns 335,800 shares of the oil and gas company’s stock worth $477,000 after buying an additional 14,720 shares during the last quarter. Pacific Ridge Capital Partners LLC boosted its position in shares of Profire Energy by 5.6% in 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 period. Finally, Royce & Associates LP grew its stake 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 worth $3,414,000 after acquiring an additional 20,000 shares during the last quarter. 38.51% of the stock is currently owned by institutional investors.

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.