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

StockNews.com initiated coverage on shares of Profire Energy (NASDAQ:PFIE – Get Rating) in a note issued to investors on Wednesday. The brokerage set a “hold” rating on the oil and gas company’s stock.

Separately, Roth Capital raised Profire Energy from a “neutral” rating to a “buy” rating in a research note on Wednesday, May 10th.

Profire Energy Price Performance

Shares of Profire Energy stock opened at $1.40 on Wednesday. The stock has a market cap of $66.29 million, a price-to-earnings ratio of 11.67 and a beta of 0.97. The company’s fifty day moving average is $1.23 and its 200 day moving average is $1.15. Profire Energy has a twelve month low of $0.85 and a twelve month high of $1.57.

Profire Energy (NASDAQ:PFIE – Get Rating) last announced its earnings results on Wednesday, March 8th. The oil and gas company reported $0.04 EPS for the quarter, beating the consensus estimate of $0.03 by $0.01. The company had revenue of $13.97 million for the quarter, compared to analyst estimates of $12.54 million. Profire Energy had a return on equity of 12.82% and a net margin of 11.59%. As a group, equities analysts anticipate that Profire Energy will post 0.13 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Profire Energy

Several large investors have recently bought and sold shares of PFIE. Prudential Financial Inc. purchased a new stake in shares of Profire Energy during the 2nd quarter valued at approximately $36,000. Two Sigma Securities LLC purchased a new position in shares of Profire Energy during the 1st quarter valued at about $32,000. Charles Schwab Investment Management Inc. purchased a new position in shares of Profire Energy during the first quarter worth approximately $34,000. Millennium Management LLC lifted its stake in Profire Energy by 84.1% in the second quarter. Millennium Management LLC now owns 70,468 shares of the oil and gas company’s stock worth $101,000 after purchasing an additional 32,185 shares during the last quarter. Finally, Renaissance Technologies LLC lifted its stake in shares of Profire Energy by 2.1% in the 4th quarter. Renaissance Technologies LLC now owns 1,577,235 shares of the oil and gas company’s stock valued at $1,672,000 after acquiring an additional 32,740 shares during the last quarter. 45.32% of the stock is currently owned by institutional investors.

Profire Energy Company Profile

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Profire Energy, Inc engages in the manufacture of industrial combustion appliances. Its product categories include burner management, combustion control, waste management, fuel and gas train management, stands, pilots, burners, chemical management, flame arrestors, combustion equipment, accessories and components, and legacy.