PowerFleet (NASDAQ:PWFL) Sees Unusually-High Trading Volume

PowerFleet, Inc. (NASDAQ:PWFL - Get Free Report) saw unusually-strong trading volume on Monday . Approximately 1,314,085 shares changed hands during trading, an increase of 123% from the previous session's volume of 590,373 shares.The stock last traded at $5.23 and had previously closed at $4.99.

Analysts Set New Price Targets

A number of equities analysts have commented on PWFL shares. Raymond James restated an "outperform" rating and issued a $7.00 target price on shares of PowerFleet in a research note on Tuesday, April 2nd. Northland Securities assumed coverage on shares of PowerFleet in a research note on Monday, March 18th. They issued an "outperform" rating and a $7.00 target price for the company. Craig Hallum assumed coverage on shares of PowerFleet in a research report on Friday, March 15th. They set a "buy" rating and a $9.00 price objective for the company. TheStreet upgraded shares of PowerFleet from a "d" rating to a "c-" rating in a research report on Thursday, March 14th. Finally, Canaccord Genuity Group upped their target price on shares of PowerFleet from $6.00 to $10.00 and gave the stock a "buy" rating in a report on Wednesday, March 13th. One analyst has rated the stock with a hold rating and eight have given a buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $8.43.

PowerFleet Stock Performance

The stock has a 50-day moving average price of $4.18 and a 200 day moving average price of $3.21. The firm has a market cap of $562.26 million, a PE ratio of -16.81 and a beta of 1.75. 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 (NASDAQ:PWFL - Get Free Report) last posted its quarterly 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 firm had revenue of $34.50 million during the quarter, compared to analyst estimates of $33.23 million. PowerFleet had a negative return on equity of 6.08% and a negative net margin of 3.86%. Research analysts forecast that PowerFleet, Inc. will post 0.12 earnings per share for the current year.

Institutional Investors Weigh In On PowerFleet

Large investors have recently modified their holdings of the stock. Worth Venture Partners LLC boosted its stake in shares of PowerFleet by 17.7% during the 3rd quarter. Worth Venture Partners LLC now owns 31,111 shares of the company's stock worth $64,000 after acquiring an additional 4,679 shares in the last quarter. Victory Capital Management Inc. acquired a new stake in shares of PowerFleet in the fourth quarter worth $112,000. Sierra Summit Advisors LLC acquired a new stake in shares of PowerFleet in the fourth quarter worth $121,000. Kennedy Capital Management LLC acquired a new stake in shares of PowerFleet in the third quarter worth $87,000. Finally, Symmetry Peak Management LLC purchased a new stake in shares of PowerFleet during the fourth quarter worth $479,000. 73.40% of the stock is owned by institutional investors.

About PowerFleet

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.

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