Begins Coverage on PowerFleet (NASDAQ:PWFL) initiated coverage on shares of PowerFleet (NASDAQ:PWFLGet Rating) in a research note issued to investors on Monday. The firm issued a hold rating on the stock.

Separately, Barrington Research raised shares of PowerFleet from a market perform rating to an outperform rating in a report on Monday, August 8th.

PowerFleet Stock Down 4.2 %

Shares of NASDAQ PWFL opened at $2.99 on Monday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.28 and a current ratio of 1.78. PowerFleet has a 52-week low of $2.06 and a 52-week high of $6.53. The company’s 50 day moving average price is $2.91 and its 200-day moving average price is $2.73. The company has a market capitalization of $108.15 million, a P/E ratio of -6.10 and a beta of 1.45.

PowerFleet (NASDAQ:PWFLGet Rating) last posted its earnings results on Tuesday, November 8th. The company reported ($0.10) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.11) by $0.01. PowerFleet had a negative net margin of 8.84% and a negative return on equity of 13.68%. The firm had revenue of $34.29 million during the quarter, compared to analyst estimates of $34.52 million. Equities analysts forecast that PowerFleet will post -0.37 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Michael J. Casey acquired 20,000 shares of the stock in a transaction on Monday, November 21st. The stock was acquired at an average price of $2.97 per share, with a total value of $59,400.00. Following the completion of the transaction, the director now owns 174,763 shares of the company’s stock, valued at approximately $519,046.11. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. 4.30% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Captrust Financial Advisors lifted its holdings in PowerFleet by 25.0% in the 2nd quarter. Captrust Financial Advisors now owns 16,015 shares of the company’s stock worth $35,000 after purchasing an additional 3,200 shares in the last quarter. Engineers Gate Manager LP bought a new position in shares of PowerFleet during the 1st quarter valued at approximately $39,000. Worth Venture Partners LLC bought a new position in PowerFleet in the 3rd quarter valued at $40,000. Connors Investor Services Inc. grew its position in PowerFleet by 9.1% in the 2nd quarter. Connors Investor Services Inc. now owns 41,000 shares of the company’s stock valued at $89,000 after acquiring an additional 3,416 shares during the last quarter. Finally, Jane Street Group LLC grew its position in PowerFleet by 26.2% in the 2nd quarter. Jane Street Group LLC now owns 73,207 shares of the company’s stock valued at $159,000 after acquiring an additional 15,198 shares during the last quarter. 67.42% of the stock is owned by hedge funds and other institutional investors.

About PowerFleet

(Get Rating)

PowerFleet, Inc provides wireless Internet-of-Things 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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