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

Equities research analysts at StockNews.com assumed coverage on shares of Profire Energy (NASDAQ:PFIE) in a report released on Friday. The firm set a “buy” rating on the oil and gas company’s stock.

Separately, Lake Street Capital reiterated 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 Price Performance

Shares of NASDAQ PFIE opened at $2.54 on Friday. Profire Energy has a 1 year low of $1.33 and a 1 year high of $2.56. The company has a 50-day moving average price of $2.51 and a 200-day moving average price of $1.92. The stock has a market capitalization of $117.35 million, a P/E ratio of 14.11 and a beta of 0.45.

Institutional Trading of Profire Energy

A number of institutional investors have recently added to or reduced their stakes in PFIE. Perritt Capital Management Inc lifted its holdings in shares of Profire Energy by 4.6% during 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 last quarter. Pacific Ridge Capital Partners LLC boosted its holdings in 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 valued at $2,470,000 after acquiring an additional 91,941 shares during the period. Royce & Associates LP grew 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 last quarter. 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 worth $82,000 after buying an additional 38,230 shares during the period. Finally, Virtu Financial LLC bought a new stake in Profire Energy during the 3rd quarter valued at $46,000. Hedge funds and other 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.