StockNews.com Initiates 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 Saturday. The firm 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 report on Wednesday, October 30th.

Profire Energy Price Performance

NASDAQ PFIE opened at $2.54 on Friday. The firm has a market cap of $117.35 million, a P/E ratio of 14.11 and a beta of 0.45. The company’s 50 day moving average is $2.53 and its 200-day moving average is $1.96. Profire Energy has a 12-month low of $1.33 and a 12-month high of $2.56.

Institutional Investors Weigh In On Profire Energy

Hedge funds and other institutional investors have recently modified their holdings of the stock. 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. Jane Street Group LLC boosted its holdings 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 period. Virtu Financial LLC purchased a new position in shares of Profire Energy during the 3rd quarter valued at $46,000. Finally, Royce & Associates LP increased its holdings 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 purchasing an additional 20,000 shares during the period. 38.51% of the stock is currently owned by institutional investors.

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.