Profire Energy (PFIE) Coverage Initiated by Analysts at Maxim Group

Maxim Group assumed coverage on shares of Profire Energy (NASDAQ:PFIE) in a research note published on Wednesday, May 30th. The brokerage issued a buy rating and a $7.00 price objective on the oil and gas company’s stock.

Several other equities research analysts have also recently commented on the company. Roth Capital assumed coverage on Profire Energy in a report on Friday, March 2nd. They issued a buy rating and a $2.00 price target for the company. ValuEngine raised Profire Energy from a hold rating to a buy rating in a research note on Thursday, April 26th. Finally, Zacks Investment Research raised Profire Energy from a sell rating to a hold rating in a research note on Wednesday, February 28th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. Profire Energy presently has an average rating of Buy and an average target price of $4.75.

Profire Energy opened at $4.81 on Wednesday, according to Marketbeat. Profire Energy has a 52-week low of $1.19 and a 52-week high of $5.30. The firm has a market cap of $231.04 million, a P/E ratio of 53.44 and a beta of 1.71.

Profire Energy (NASDAQ:PFIE) last issued its quarterly earnings data on Wednesday, May 9th. The oil and gas company reported $0.04 earnings per share for the quarter, topping analysts’ consensus estimates of $0.02 by $0.02. Profire Energy had a return on equity of 13.15% and a net margin of 13.43%. The firm had revenue of $12.17 million during the quarter, compared to analysts’ expectations of $9.23 million. equities analysts expect that Profire Energy will post 0.2 earnings per share for the current year.

A number of hedge funds have recently bought and sold shares of PFIE. Connors Investor Services Inc. acquired a new stake in shares of Profire Energy during the 1st quarter worth $158,000. Dimensional Fund Advisors LP acquired a new stake in Profire Energy in the 1st quarter valued at $159,000. Private Advisor Group LLC increased its holdings in Profire Energy by 340.7% in the 1st quarter. Private Advisor Group LLC now owns 59,500 shares of the oil and gas company’s stock valued at $162,000 after purchasing an additional 46,000 shares in the last quarter. Bailard Inc. purchased a new position in Profire Energy in the 4th quarter valued at about $149,000. Finally, Millennium Management LLC purchased a new position in Profire Energy in the 1st quarter valued at about $328,000. 23.10% of the stock is currently owned by hedge funds and other institutional investors.

About Profire Energy

Profire Energy, Inc, an oilfield technology company, provides burner- and chemical-management products and services for the oil and gas industry primarily in the United States and Canada. It assists energy production companies in the production and transportation of oil and natural gas. The company offers burner-management systems to ignite, monitor, and manage the burner flames used in oilfield vessels, as well as complementary oilfield products, such as valves and fuel trains, airplates, solar packages, and flare stack igniters and nozzles.

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