Profire Energy (NASDAQ:PFIE) Stock Passes Above 200-Day Moving Average – Here’s What Happened

Profire Energy, Inc. (NASDAQ:PFIE) crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $1.81 and traded as high as $2.55. Profire Energy shares last traded at $2.53, with a volume of 153,103 shares trading hands.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on PFIE. StockNews.com started coverage on Profire Energy in a report on Wednesday. They issued a “buy” rating for the company. Lake Street Capital reissued 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 Trading Down 0.8 %

The company has a market cap of $116.89 million, a PE ratio of 14.06 and a beta of 0.45. The firm has a 50 day moving average of $2.27 and a two-hundred day moving average of $1.81.

Hedge Funds Weigh In On Profire Energy

Several institutional investors and hedge funds have recently modified their holdings of the stock. Pacific Ridge Capital Partners LLC boosted its stake in Profire Energy by 5.6% in the 2nd 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 in the last quarter. Jane Street Group LLC lifted its stake in shares of 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 buying an additional 38,230 shares in the last quarter. Virtu Financial LLC purchased a new stake in shares of Profire Energy during the third quarter valued at approximately $46,000. Royce & Associates LP grew its holdings 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 buying an additional 20,000 shares during the last quarter. Finally, Perritt Capital Management Inc increased 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 valued at $477,000 after acquiring an additional 14,720 shares in the last quarter. 38.51% of the stock is currently owned by 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.