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

Investment analysts at StockNews.com initiated coverage on shares of Profire Energy (NASDAQ:PFIE) in a report issued on Saturday. 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 price objective on shares of Profire Energy in a research note on Wednesday, October 30th.

Profire Energy Price Performance

Shares of Profire Energy stock opened at $2.52 on Friday. The stock’s 50 day simple moving average is $1.87 and its 200-day simple moving average is $1.67. The stock has a market cap of $116.42 million, a P/E ratio of 13.97 and a beta of 0.43. Profire Energy has a 1-year low of $1.33 and a 1-year high of $2.52.

Hedge Funds Weigh In On Profire Energy

A number of institutional investors have recently bought and sold shares of PFIE. Royce & Associates LP increased its holdings in shares of 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 worth $3,414,000 after buying an additional 20,000 shares during the last quarter. Pacific Ridge Capital Partners LLC grew its position in Profire Energy by 5.6% in 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 acquiring an additional 91,941 shares during the period. Vanguard Group Inc. increased its stake 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 worth $2,968,000 after acquiring an additional 235,664 shares during the last quarter. Perritt Capital Management Inc raised its position 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 valued at $477,000 after purchasing an additional 14,720 shares during the period. Finally, O Shaughnessy Asset Management LLC lifted its stake in shares of 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 valued at $325,000 after purchasing an additional 24,376 shares during the last quarter. 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.