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

StockNews.com assumed coverage on shares of Profire Energy (NASDAQ:PFIE) in a report published on Monday morning. The brokerage issued a buy rating on the oil and gas company’s stock.

Separately, Lake Street Capital reissued a “hold” rating and set a $2.55 target price on shares of Profire Energy in a report on Wednesday, October 30th.

Profire Energy Price Performance

Shares of PFIE opened at $2.54 on Monday. The firm has a market capitalization of $117.35 million, a PE ratio of 14.11 and a beta of 0.45. The firm has a 50-day moving average price of $2.54 and a 200 day moving average price of $2.05. Profire Energy has a 52-week low of $1.33 and a 52-week high of $2.56.

Institutional Investors Weigh In On Profire Energy

A number of institutional investors and hedge funds have recently bought and sold shares of PFIE. Virtu Financial LLC bought a new stake in shares of Profire Energy in the 3rd quarter worth approximately $46,000. Jane Street Group LLC increased its position 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 acquiring an additional 38,230 shares in the last quarter. Trium Capital LLP acquired a new stake in Profire Energy during the 4th quarter valued at $2,296,000. Finally, 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 in the last quarter. 38.51% of the stock is 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.