PowerFleet, Inc. (NASDAQ:PWFL) Given Average Rating of "Buy" by Brokerages

Shares of PowerFleet, Inc. (NASDAQ:PWFL - Get Free Report) have been assigned an average rating of "Buy" from the eight research firms that are currently covering the stock, MarketBeat.com reports. Eight equities research analysts have rated the stock with a buy rating. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $8.00.

Several research analysts have weighed in on PWFL shares. Northland Securities started coverage on PowerFleet in a research report on Monday, March 18th. They issued an "outperform" rating and a $7.00 target price on the stock. Canaccord Genuity Group upped their target price on PowerFleet from $6.00 to $10.00 and gave the stock a "buy" rating in a research report on Wednesday, March 13th. Raymond James reaffirmed an "outperform" rating and issued a $7.00 target price on shares of PowerFleet in a research report on Tuesday, April 2nd. Craig Hallum started coverage on PowerFleet in a research report on Friday, March 15th. They issued a "buy" rating and a $9.00 target price on the stock. Finally, Lake Street Capital upped their target price on PowerFleet from $4.00 to $7.00 and gave the stock a "buy" rating in a research report on Wednesday, March 13th.

PowerFleet Stock Up 0.9 %

PowerFleet stock traded up $0.04 during mid-day trading on Tuesday, hitting $4.47. The company's stock had a trading volume of 729,106 shares, compared to its average volume of 547,977. The firm's 50 day moving average is $3.65 and its 200 day moving average is $2.87. The company has a market cap of $166.33 million, a PE ratio of -14.52 and a beta of 1.72. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.71 and a quick ratio of 1.28. PowerFleet has a 52-week low of $1.64 and a 52-week high of $5.67.

PowerFleet (NASDAQ:PWFL - Get Free Report) last announced its quarterly earnings data on Tuesday, March 12th. The company reported ($0.13) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.07) by ($0.06). The business had revenue of $34.50 million during 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 year.

Institutional Trading of PowerFleet

A number of hedge funds have recently modified their holdings of the company. Captrust Financial Advisors lifted its position in shares of PowerFleet by 25.0% during the 2nd quarter. Captrust Financial Advisors now owns 16,015 shares of the company's stock worth $35,000 after buying an additional 3,200 shares during the period. Bank of America Corp DE increased its holdings in PowerFleet by 14,257.9% during the 1st quarter. Bank of America Corp DE now owns 10,912 shares of the company's stock valued at $37,000 after purchasing an additional 10,836 shares in the last quarter. Engineers Gate Manager LP acquired a new stake in PowerFleet during the 1st quarter valued at $39,000. Millennium Management LLC acquired a new stake in PowerFleet during the 4th quarter valued at $56,000. Finally, LPL Financial LLC increased its stake in shares of PowerFleet by 81.7% in the 2nd quarter. LPL Financial LLC now owns 18,954 shares of the company's stock valued at $57,000 after buying an additional 8,525 shares during the period. Institutional investors own 73.40% of the company's stock.

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.