PowerFleet, Inc. (NASDAQ:PWFL) Given Average Rating of “Buy” by Analysts

Shares of PowerFleet, Inc. (NASDAQ:PWFL) have been assigned a consensus rating of “Buy” from the eight analysts that are covering the stock, Marketbeat reports. Eight research analysts have rated the stock with a buy rating. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $8.00.

A number of equities analysts have issued reports on the company. William Blair assumed coverage on PowerFleet in a report on Wednesday, April 3rd. They set an “outperform” rating on the stock. 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. 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. Northland Securities assumed coverage on PowerFleet in a research report on Monday, March 18th. They set an “outperform” rating and a $7.00 target price on the stock. Finally, Craig Hallum assumed coverage on PowerFleet in a research report on Friday, March 15th. They set a “buy” rating and a $9.00 target price on the stock.

PowerFleet Price Performance

PowerFleet stock opened at $4.23 on Tuesday. The stock has a market capitalization of $456.50 million, a price-to-earnings ratio of -13.64 and a beta of 1.72. PowerFleet has a 52-week low of $1.64 and a 52-week high of $5.67. The stock’s 50 day moving average price is $3.77 and its two-hundred day moving average price is $2.95. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.28 and a current ratio of 1.71.

PowerFleet (NASDAQ:PWFL) last posted its quarterly earnings results on Tuesday, March 12th. The company reported ($0.13) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.06). The business had revenue of $34.50 million for the quarter, compared to the consensus estimate of $33.23 million. PowerFleet had a negative return on equity of 6.08% and a negative net margin of 3.86%. On average, equities analysts predict that PowerFleet will post -0.17 earnings per share for the current year.

Institutional Investors Weigh In On PowerFleet

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Private Capital Management LLC raised its position in PowerFleet by 10.5% in the 4th quarter. Private Capital Management LLC now owns 5,778,189 shares of the company’s stock valued at $19,761,000 after buying an additional 549,495 shares during the last quarter. Lynrock Lake LP raised its position in PowerFleet by 0.7% in the 4th quarter. Lynrock Lake LP now owns 3,604,466 shares of the company’s stock valued at $9,696,000 after buying an additional 23,500 shares during the last quarter. AWM Investment Company Inc. raised its position in PowerFleet by 5.2% in the 3rd quarter. AWM Investment Company Inc. now owns 2,974,946 shares of the company’s stock valued at $6,158,000 after buying an additional 147,408 shares during the last quarter. North Run Capital LP raised its position in 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 last quarter. Finally, ArrowMark Colorado Holdings LLC raised its position in 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 last quarter. 73.40% of the stock is owned by hedge funds and other institutional investors.

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.