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

Research analysts at StockNews.com started coverage on shares of Profire Energy (NASDAQ:PFIE) in a report released on Sunday. The firm 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 report on Wednesday, October 30th.

Profire Energy Stock Performance

NASDAQ:PFIE opened at $2.54 on Friday. The firm’s fifty day simple moving average is $2.53 and its 200 day simple moving average is $2.01. Profire Energy has a twelve month low of $1.33 and a twelve month high of $2.56. The firm has a market capitalization of $117.35 million, a price-to-earnings ratio of 14.11 and a beta of 0.45.

Hedge Funds Weigh In On Profire Energy

Several institutional investors and hedge funds have recently made changes to their positions in the business. Virtu Financial LLC bought a new position in shares of Profire Energy in the 3rd quarter worth about $46,000. Jane Street Group LLC increased its stake 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 purchasing an additional 38,230 shares during the period. Trium Capital LLP acquired a new stake in Profire Energy in the 4th quarter valued at approximately $2,296,000. Pacific Ridge Capital Partners LLC grew its position 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 in the last quarter. Finally, Royce & Associates LP increased 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 acquiring an additional 20,000 shares during the period. 38.51% of the stock is currently owned by hedge funds and other 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.