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

Analysts at StockNews.com assumed coverage on shares of Profire Energy (NASDAQ:PFIE) in a research report issued on Monday. 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 research report on Wednesday, October 30th.

Profire Energy Stock Up 0.4 %

PFIE stock opened at $2.53 on Monday. The company has a fifty day simple moving average of $2.11 and a two-hundred day simple moving average of $1.75. Profire Energy has a 52 week low of $1.33 and a 52 week high of $2.55. The firm has a market capitalization of $116.89 million, a P/E ratio of 14.06 and a beta of 0.45.

Hedge Funds Weigh In On Profire Energy

Several institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. boosted its position in Profire Energy by 17.2% during the first quarter. Vanguard Group Inc. now owns 1,604,221 shares of the oil and gas company’s stock valued at $2,968,000 after purchasing an additional 235,664 shares in the last quarter. Pacific Ridge Capital Partners LLC boosted its holdings in shares of 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. Jane Street Group LLC boosted its holdings in shares of 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 buying an additional 38,230 shares in the last quarter. Williams & Novak LLC purchased a new position in shares of Profire Energy in the 2nd quarter worth approximately $46,000. Finally, Virtu Financial LLC bought a new position in shares of Profire Energy during the 3rd quarter worth approximately $46,000. 38.51% of the stock is owned by hedge funds and other 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.