Chardan Capital Increases Profire Energy, Inc. (PFIE) Price Target to $2.50

Profire Energy, Inc. (NASDAQ:PFIE) had its price target hoisted by investment analysts at Chardan Capital from $2.30 to $2.50 in a report released on Friday. The firm presently has a “buy” rating on the oil and gas company’s stock. Chardan Capital’s price target would suggest a potential upside of 24.38% from the company’s current price.

Separately, Zacks Investment Research raised Profire Energy from a “hold” rating to a “buy” rating and set a $1.75 price objective on the stock in a report on Tuesday, August 15th.

Shares of Profire Energy (NASDAQ PFIE) traded down $0.05 during midday trading on Friday, reaching $2.01. The company’s stock had a trading volume of 57,200 shares, compared to its average volume of 93,997. Profire Energy has a 52-week low of $1.11 and a 52-week high of $2.25. The firm has a market cap of $99.75, a price-to-earnings ratio of 29.43 and a beta of 1.66.

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A number of hedge funds and other institutional investors have recently modified their holdings of the business. Macquarie Group Ltd. acquired a new position in Profire Energy in the 3rd quarter valued at $174,000. Essex Investment Management Co. LLC acquired a new stake in shares of Profire Energy during the 3rd quarter worth $429,000. Nationwide Fund Advisors acquired a new stake in shares of Profire Energy during the 3rd quarter worth $279,000. Tocqueville Asset Management L.P. grew its holdings in shares of Profire Energy by 151.1% during the 2nd quarter. Tocqueville Asset Management L.P. now owns 1,730,500 shares of the oil and gas company’s stock worth $2,250,000 after purchasing an additional 1,041,256 shares in the last quarter. Finally, Renaissance Technologies LLC grew its holdings in shares of Profire Energy by 8.7% during the 1st quarter. Renaissance Technologies LLC now owns 341,460 shares of the oil and gas company’s stock worth $481,000 after purchasing an additional 27,460 shares in the last quarter. 20.50% of the stock is currently owned by hedge funds and other institutional investors.

About Profire Energy

Profire Energy, Inc is an oilfield technology company. The Company is primarily engaged in the business of developing combustion management technologies for the oil and gas industry. It specializes in the creation of burner-management systems, used on a range of oilfield natural-draft fire tube vessels.

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