PowerFleet (NASDAQ:PWFL) Given "Outperform" Rating at Raymond James

Raymond James reissued their outperform rating on shares of PowerFleet (NASDAQ:PWFL - Free Report) in a report released on Tuesday, Marketbeat reports. Raymond James currently has a $7.00 price target on the stock.

Other analysts have also issued reports about the company. Northland Securities started coverage on PowerFleet in a report on Monday, March 18th. They issued an outperform rating and a $7.00 price objective on the stock. TheStreet raised PowerFleet from a d rating to a c- rating in a report on Thursday, March 14th. Craig Hallum started coverage on PowerFleet in a report on Friday, March 15th. They issued a buy rating and a $9.00 price objective on the stock. Canaccord Genuity Group raised their target price on PowerFleet from $6.00 to $10.00 and gave the company a buy rating in a research report on Wednesday, March 13th. Finally, Lake Street Capital raised their target price on PowerFleet from $4.00 to $7.00 and gave the company a buy rating in a research report on Wednesday, March 13th. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, PowerFleet has an average rating of Moderate Buy and a consensus price target of $8.00.

PowerFleet Price Performance

PWFL traded up $0.20 during trading on Tuesday, hitting $5.12. The company's stock had a trading volume of 2,120,669 shares, compared to its average volume of 524,991. The company has a current ratio of 1.71, a quick ratio of 1.28 and a debt-to-equity ratio of 0.12. PowerFleet has a twelve month low of $1.64 and a twelve month high of $5.67. The business's fifty day simple moving average is $3.49 and its 200 day simple moving average is $2.78. The firm has a market capitalization of $190.52 million, a price-to-earnings ratio of -17.19 and a beta of 1.72.

Hedge Funds Weigh In On PowerFleet

A number of institutional investors have recently added to or reduced their stakes in PWFL. Private Capital Management LLC lifted its position in PowerFleet by 50.5% during the first quarter. Private Capital Management LLC now owns 4,349,003 shares of the company's stock worth $14,917,000 after buying an additional 1,459,830 shares in the last quarter. North Run Capital LP lifted its position in PowerFleet by 13.9% during the fourth quarter. North Run Capital LP now owns 2,694,646 shares of the company's stock worth $7,249,000 after buying an additional 328,024 shares in the last quarter. ArrowMark Colorado Holdings LLC lifted its position in PowerFleet by 21.4% during the first quarter. ArrowMark Colorado Holdings LLC now owns 1,604,108 shares of the company's stock worth $5,502,000 after buying an additional 283,182 shares in the last quarter. Millrace Asset Group Inc. purchased a new position in PowerFleet during the fourth quarter worth approximately $754,000. Finally, Penn Capital Management Company LLC purchased a new position in PowerFleet during the first quarter worth approximately $715,000. Hedge funds and other 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.