Profire Energy (NASDAQ:PFIE) Earns Buy Rating from Analysts at StockNews.com

StockNews.com began coverage on shares of Profire Energy (NASDAQ:PFIE) in a research note issued to investors on Monday. The brokerage issued a buy rating on the oil and gas company’s stock.

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

Profire Energy Price Performance

Shares of PFIE stock opened at $2.54 on Monday. The firm has a market cap of $117.35 million, a P/E ratio of 14.11 and a beta of 0.45. The firm has a fifty day moving average of $2.54 and a two-hundred day moving average of $2.05. Profire Energy has a 1-year low of $1.33 and a 1-year high of $2.56.

Institutional Trading of Profire Energy

Several hedge funds have recently made changes to their positions in PFIE. Royce & Associates LP increased its position in 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 buying an additional 20,000 shares during the period. Trium Capital LLP acquired a new stake in shares of Profire Energy in the 4th quarter worth about $2,296,000. Jane Street Group LLC lifted its position in Profire Energy by 359.3% in 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 purchasing an additional 38,230 shares during the last quarter. Finally, Virtu Financial LLC acquired a new position in Profire Energy during the 3rd quarter valued at about $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.