Profire Energy (NASDAQ:PFIE) Coverage Initiated at StockNews.com

StockNews.com started coverage on shares of Profire Energy (NASDAQ:PFIE) in a research report report published on Friday. The brokerage issued a buy rating on the oil and gas company’s stock.

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

Profire Energy Price Performance

Shares of NASDAQ:PFIE opened at $2.54 on Friday. The company has a market cap of $117.35 million, a PE ratio of 14.11 and a beta of 0.45. Profire Energy has a fifty-two week low of $1.33 and a fifty-two week high of $2.56. The firm has a 50-day simple moving average of $2.51 and a 200 day simple moving average of $1.92.

Institutional Investors Weigh In On Profire Energy

Several large investors have recently made changes to their positions in PFIE. Perritt Capital Management Inc increased its position in Profire Energy by 4.6% in the 2nd quarter. Perritt Capital Management Inc now owns 335,800 shares of the oil and gas company’s stock valued at $477,000 after acquiring an additional 14,720 shares during the period. Pacific Ridge Capital Partners LLC increased its holdings in shares of Profire Energy by 5.6% during 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 purchasing an additional 91,941 shares during the period. Royce & Associates LP raised 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 purchasing an additional 20,000 shares in the last quarter. Jane Street Group LLC raised its stake in shares of Profire Energy by 359.3% during 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 in the last quarter. Finally, Virtu Financial LLC acquired a new stake in Profire Energy in the third quarter worth about $46,000. Institutional investors and hedge funds 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.