PowerFleet (NASDAQ:PWFL) Given New $10.00 Price Target at Barrington Research

PowerFleet (NASDAQ:PWFL) had its target price upped by stock analysts at Barrington Research from $7.00 to $10.00 in a report issued on Tuesday, Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Barrington Research’s price target would suggest a potential upside of 108.77% from the stock’s previous close.

Other equities analysts have also issued research reports about the company. Northland Securities initiated coverage on PowerFleet in a research report on Monday, March 18th. They issued an “outperform” rating and a $7.00 price target for the company. TheStreet upgraded PowerFleet from a “d” rating to a “c-” rating in a research report on Thursday, March 14th. Raymond James reiterated an “outperform” rating and issued a $7.00 price target on shares of PowerFleet in a research report on Tuesday, April 2nd. Lake Street Capital increased their price target on PowerFleet from $4.00 to $7.00 and gave the company a “buy” rating in a research report on Wednesday, March 13th. Finally, Canaccord Genuity Group increased their price target on PowerFleet from $6.00 to $10.00 and gave the company a “buy” rating in a research report on Wednesday, March 13th. One investment analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, PowerFleet has a consensus rating of “Moderate Buy” and a consensus price target of $8.43.

PowerFleet Price Performance

Shares of PWFL traded up $0.13 during midday trading on Tuesday, reaching $4.79. The stock had a trading volume of 459,182 shares, compared to its average volume of 571,826. The firm’s 50 day moving average price is $3.98 and its 200-day moving average price is $3.10. The company has a market capitalization of $516.94 million, a P/E ratio of -15.39 and a beta of 1.72. PowerFleet has a 52 week low of $1.64 and a 52 week high of $5.67. 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) last announced its quarterly earnings data on Tuesday, March 12th. The company reported ($0.13) EPS for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.06). PowerFleet had a negative net margin of 3.86% and a negative return on equity of 6.08%. The company had revenue of $34.50 million for the quarter, compared to analyst estimates of $33.23 million. On average, analysts forecast that PowerFleet will post -0.17 earnings per share for the current fiscal year.

Institutional Investors Weigh In On PowerFleet

Institutional investors have recently bought and sold shares of the business. Kennedy Capital Management LLC acquired a new stake in shares of PowerFleet during the 3rd quarter valued at about $87,000. Equitable Trust Co. lifted its holdings in shares of PowerFleet by 35.1% during the 4th quarter. Equitable Trust Co. now owns 269,992 shares of the company’s stock valued at $923,000 after buying an additional 70,198 shares during the last quarter. Perritt Capital Management Inc. lifted its holdings in shares of PowerFleet by 22.5% during the 3rd quarter. Perritt Capital Management Inc. now owns 290,488 shares of the company’s stock valued at $601,000 after buying an additional 53,300 shares during the last quarter. AWM Investment Company Inc. lifted its holdings in shares of PowerFleet by 5.2% during 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. Finally, Worth Venture Partners LLC lifted its holdings 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 valued at $64,000 after buying an additional 4,679 shares during the last quarter. 73.40% of the stock is currently owned by institutional investors and hedge funds.

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.