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

Research analysts at StockNews.com started coverage on shares of Profire Energy (NASDAQ:PFIEGet Rating) in a research note issued on Wednesday. The brokerage set a “hold” rating on the oil and gas company’s stock.

PFIE has been the topic of a number of other research reports. Dawson James lifted their price objective on Profire Energy from $1.65 to $2.00 in a research report on Wednesday, March 9th. Univest Sec raised Profire Energy from a “hold” rating to a “buy” rating and raised their target price for the stock from $1.25 to $2.00 in a research note on Monday, March 14th.

Shares of PFIE stock opened at $1.36 on Wednesday. The business’s 50 day moving average is $1.36 and its two-hundred day moving average is $1.23. Profire Energy has a 12-month low of $0.88 and a 12-month high of $1.59.

Profire Energy (NASDAQ:PFIEGet Rating) last issued its quarterly earnings results on Tuesday, May 3rd. The oil and gas company reported $0.01 earnings per share (EPS) for the quarter. The company had revenue of $9.50 million for the quarter, compared to the consensus estimate of $8.03 million. Profire Energy had a return on equity of 0.40% and a net margin of 0.58%. During the same quarter in the prior year, the business posted ($0.01) earnings per share. On average, research analysts predict that Profire Energy will post 0.04 EPS for the current year.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Marshall Wace LLP purchased a new stake in Profire Energy during the 1st quarter worth about $134,000. FMR LLC lifted its holdings in shares of Profire Energy by 27.5% in the 1st quarter. FMR LLC now owns 2,011,596 shares of the oil and gas company’s stock valued at $3,601,000 after purchasing an additional 433,698 shares during the last quarter. Citadel Advisors LLC purchased a new stake in shares of Profire Energy in the 2nd quarter valued at about $33,000. Wells Fargo & Company MN lifted its holdings in shares of Profire Energy by 80,389.8% in the 2nd quarter. Wells Fargo & Company MN now owns 165,004 shares of the oil and gas company’s stock valued at $186,000 after purchasing an additional 164,799 shares during the last quarter. Finally, Millennium Management LLC lifted its holdings in shares of Profire Energy by 26.8% in the 3rd quarter. Millennium Management LLC now owns 41,918 shares of the oil and gas company’s stock valued at $48,000 after purchasing an additional 8,870 shares during the last quarter. 40.38% of the stock is owned by hedge funds and other institutional investors.

About Profire Energy (Get Rating)

Profire Energy, Inc, a technology company, provides 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. It also sells and installs its systems in Europe, South America, Africa, the Middle East, and Asia.

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