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

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

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

Profire Energy Price Performance

Shares of PFIE stock remained flat at $2.51 during trading on Friday. The company had a trading volume of 175,716 shares, compared to its average volume of 344,810. The business has a fifty day moving average price of $1.78 and a two-hundred day moving average price of $1.65. The stock has a market capitalization of $117.53 million, a PE ratio of 13.94 and a beta of 0.43. Profire Energy has a 1-year low of $1.33 and a 1-year high of $2.52.

Profire Energy (NASDAQ:PFIE) last posted its earnings results on Wednesday, November 6th. The oil and gas company reported $0.04 EPS for the quarter. The business had revenue of $17.20 million during the quarter. Profire Energy had a net margin of 14.86% and a return on equity of 15.33%.

Institutional Investors Weigh In On Profire Energy

A number of institutional investors have recently modified their holdings of the business. Advisor Resource Council bought a new position in shares of Profire Energy in the second quarter valued at $38,000. Williams & Novak LLC bought a new stake in Profire Energy during the second quarter worth $46,000. O Shaughnessy Asset Management LLC lifted its position in Profire Energy by 16.1% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 175,795 shares of the oil and gas company’s stock worth $325,000 after buying an additional 24,376 shares during the last quarter. Perritt Capital Management Inc boosted its holdings in Profire Energy by 4.6% in the second 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 in the last quarter. Finally, Perkins Capital Management Inc. boosted its stake in Profire Energy by 0.9% in the 1st quarter. Perkins Capital Management Inc. now owns 945,520 shares of the oil and gas company’s stock worth $1,749,000 after purchasing an additional 8,788 shares during the period. 38.51% of the stock is currently owned by institutional investors and hedge funds.

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.