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

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

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

Profire Energy Price Performance

Shares of Profire Energy stock opened at $2.54 on Tuesday. The stock has a 50-day simple moving average of $2.54 and a 200-day simple moving average of $2.08. Profire Energy has a 52-week low of $1.33 and a 52-week high of $2.56. The firm has a market cap of $117.35 million, a price-to-earnings ratio of 14.11 and a beta of 0.45.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Trium Capital LLP acquired a new position in Profire Energy during the fourth quarter valued at approximately $2,296,000. ABC Arbitrage SA bought a new stake in shares of Profire Energy during the 4th quarter worth $1,516,000. Jane Street Group LLC grew its stake in Profire Energy by 359.3% in the 3rd quarter. Jane Street Group LLC now owns 48,870 shares of the oil and gas company’s stock valued at $82,000 after buying an additional 38,230 shares during the last quarter. Virtu Financial LLC bought a new position in Profire Energy in the 3rd quarter worth $46,000. Finally, Wolverine Asset Management LLC acquired a new position in Profire Energy during the 4th quarter worth $64,000. 38.51% of the stock is 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.