Barrington Research Increases PowerFleet (NASDAQ:PWFL) Price Target to $10.00

PowerFleet (NASDAQ:PWFL - Get Free Report) had its price objective raised by investment analysts at Barrington Research from $7.00 to $10.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The firm presently has an "outperform" rating on the stock. Barrington Research's price target suggests a potential upside of 108.77% from the stock's previous close.

A number of other equities analysts have also commented on PWFL. Raymond James reaffirmed an "outperform" rating and set a $7.00 target price on shares of PowerFleet in a research report on Tuesday, April 2nd. Northland Securities initiated coverage on shares of PowerFleet in a research report on Monday, March 18th. They set an "outperform" rating and a $7.00 target price on the stock. TheStreet raised shares of PowerFleet from a "d" rating to a "c-" rating in a research report on Thursday, March 14th. Craig Hallum started coverage on shares of PowerFleet in a research report on Friday, March 15th. They set a "buy" rating and a $9.00 target price on the stock. Finally, Canaccord Genuity Group lifted their price objective on shares of PowerFleet from $6.00 to $10.00 and gave the company a "buy" rating in a report on Wednesday, March 13th. One analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $8.43.

PowerFleet Trading Up 2.8 %

PowerFleet stock traded up $0.13 during midday trading on Tuesday, reaching $4.79. The stock had a trading volume of 800,846 shares, compared to its average volume of 576,302. The company has a quick ratio of 1.28, a current ratio of 1.71 and a debt-to-equity ratio of 0.12. PowerFleet has a 52-week low of $1.64 and a 52-week high of $5.67. The firm has a market cap of $516.94 million, a price-to-earnings ratio of -15.45 and a beta of 1.72. The company has a fifty day moving average of $4.02 and a 200 day moving average of $3.12.

PowerFleet (NASDAQ:PWFL - Get Free Report) last issued its earnings results on Tuesday, March 12th. The company reported ($0.13) EPS for the quarter, missing analysts' consensus estimates of ($0.07) by ($0.06). The company had revenue of $34.50 million for the quarter, compared to analysts' expectations of $33.23 million. PowerFleet had a negative return on equity of 6.08% and a negative net margin of 3.86%. On average, analysts anticipate that PowerFleet will post -0.17 earnings per share for the current fiscal year.

Institutional Investors Weigh In On PowerFleet

Institutional investors have recently bought and sold shares of the company. Kennedy Capital Management LLC acquired a new stake in PowerFleet in the third quarter valued at approximately $87,000. Equitable Trust Co. lifted its stake in shares of PowerFleet by 35.1% during the fourth quarter. Equitable Trust Co. now owns 269,992 shares of the company's stock worth $923,000 after buying an additional 70,198 shares during the period. Perritt Capital Management Inc. lifted its stake in shares of PowerFleet by 22.5% during the third quarter. Perritt Capital Management Inc. now owns 290,488 shares of the company's stock worth $601,000 after buying an additional 53,300 shares during the period. AWM Investment Company Inc. lifted its stake in shares of PowerFleet by 5.2% during the third quarter. AWM Investment Company Inc. now owns 2,974,946 shares of the company's stock worth $6,158,000 after buying an additional 147,408 shares during the period. Finally, Worth Venture Partners LLC lifted its stake in shares of PowerFleet by 17.7% during the third quarter. Worth Venture Partners LLC now owns 31,111 shares of the company's stock worth $64,000 after buying an additional 4,679 shares during the period. 73.40% of the stock is currently owned by institutional investors and hedge funds.

PowerFleet Company Profile

PowerFleet, Inc provides wireless Internet-of-Things (IoT) asset management solutions in the United States, Israel, and internationally. The company offers real-time intelligence for organizations to capture IoT data from various types of assets with devices and sensors to increase efficiencies, and improve safety and security, as well as increase their profitability in easy-to-understand reports, dashboards, and real-time alerts; and application programming interfaces for additional integrations and development to boost other enterprise management systems and third-party applications.