Profire Energy (NASDAQ:PFIE) Earns Buy Rating from Analysts at StockNews.com

StockNews.com initiated coverage on shares of Profire Energy (NASDAQ:PFIE) in a research report report published on Friday morning. The firm 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 objective on shares of Profire Energy in a research note on Wednesday, October 30th.

Profire Energy Stock Performance

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

Hedge Funds Weigh In On Profire Energy

Institutional investors and hedge funds have recently made changes to their positions in the business. Royce & Associates LP boosted its stake in Profire Energy by 1.0% during the 3rd quarter. Royce & Associates LP now owns 2,032,361 shares of the oil and gas company’s stock valued at $3,414,000 after acquiring an additional 20,000 shares during the last quarter. Pacific Ridge Capital Partners LLC lifted its position 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 worth $2,470,000 after purchasing an additional 91,941 shares during the last quarter. Perritt Capital Management Inc lifted its position in shares of Profire Energy by 4.6% during the second quarter. Perritt Capital Management Inc now owns 335,800 shares of the oil and gas company’s stock worth $477,000 after purchasing an additional 14,720 shares during the last quarter. Jane Street Group LLC grew its stake in 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 purchasing an additional 38,230 shares in the last quarter. Finally, Virtu Financial LLC bought a new stake in Profire Energy in the third quarter valued at about $46,000. 38.51% of the stock is currently owned by hedge funds and other institutional investors.

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.