William Blair Initiates Coverage on PowerFleet (NASDAQ:PWFL)

Equities research analysts at William Blair assumed coverage on shares of PowerFleet (NASDAQ:PWFL - Get Free Report) in a research report issued on Wednesday, Marketbeat Ratings reports. The firm set an "outperform" rating on the stock.

A number of other research firms also recently issued reports on PWFL. Raymond James restated an "outperform" rating and set a $7.00 price target on shares of PowerFleet in a research note on Tuesday. Lake Street Capital raised their price target on PowerFleet from $4.00 to $7.00 and gave the stock a "buy" rating in a research note on Wednesday, March 13th. Craig Hallum initiated coverage on PowerFleet in a research note on Friday, March 15th. They set a "buy" rating and a $9.00 price target on the stock. Canaccord Genuity Group raised their price target on PowerFleet from $6.00 to $10.00 and gave the stock a "buy" rating in a research note on Wednesday, March 13th. Finally, Northland Securities assumed coverage on PowerFleet in a research note on Monday, March 18th. They set an "outperform" rating and a $7.00 price target on the stock. One investment analyst has rated the stock with a hold rating and eight have issued a buy rating to the company's stock. Based on data from MarketBeat.com, PowerFleet currently has a consensus rating of "Moderate Buy" and a consensus target price of $8.00.

PowerFleet Stock Performance

NASDAQ:PWFL traded down $0.37 during mid-day trading on Wednesday, reaching $4.75. 1,174,838 shares of the stock were exchanged, compared to its average volume of 535,157. The company has a 50 day simple moving average of $3.53 and a 200-day simple moving average of $2.80. The stock has a market capitalization of $176.75 million, a P/E ratio of -15.32 and a beta of 1.72. 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 1 year low of $1.64 and a 1 year high of $5.67.

Institutional Trading of PowerFleet

A number of hedge funds have recently added to or reduced their stakes in PWFL. Private Capital Management LLC lifted its holdings in shares of PowerFleet by 50.5% in the 1st quarter. Private Capital Management LLC now owns 4,349,003 shares of the company's stock valued at $14,917,000 after buying an additional 1,459,830 shares during the period. North Run Capital LP lifted its holdings in shares of PowerFleet by 13.9% in the 4th quarter. North Run Capital LP now owns 2,694,646 shares of the company's stock valued at $7,249,000 after buying an additional 328,024 shares during the period. ArrowMark Colorado Holdings LLC lifted its holdings in shares of PowerFleet by 21.4% in the 1st quarter. ArrowMark Colorado Holdings LLC now owns 1,604,108 shares of the company's stock valued at $5,502,000 after buying an additional 283,182 shares during the period. Millrace Asset Group Inc. acquired a new stake in shares of PowerFleet in the 4th quarter valued at approximately $754,000. Finally, Penn Capital Management Company LLC acquired a new stake in shares of PowerFleet in the 1st quarter valued at approximately $715,000. 73.40% of the stock is 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.