Recent Research Analysts’ Ratings Changes for PowerFleet (PWFL)

Posted by on Jun 1st, 2022

A number of research firms have changed their ratings and price targets for PowerFleet (NASDAQ: PWFL):

  • 5/31/2022 – PowerFleet was upgraded by analysts at Zacks Investment Research from a “sell” rating to a “hold” rating. According to Zacks, “PowerFleet Inc. is a provider of subscription-based wireless IoT and M2M solutions for securing, controlling, tracking and managing enterprise assets such as industrial trucks, tractor trailers, containers, cargo and vehicles and truck fleets. Its brand consists of PowerFleet, Pointer and Cellocator. PowerFleet Inc., formerly known as I.D. Systems, is headquartered in Woodcliff Lake, New Jersey. “
  • 5/29/2022 – PowerFleet is now covered by analysts at StockNews.com. They set a “hold” rating on the stock.
  • 5/24/2022 – PowerFleet was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “sell” rating. According to Zacks, “PowerFleet Inc. is a provider of subscription-based wireless IoT and M2M solutions for securing, controlling, tracking and managing enterprise assets such as industrial trucks, tractor trailers, containers, cargo and vehicles and truck fleets. Its brand consists of PowerFleet, Pointer and Cellocator. PowerFleet Inc., formerly known as I.D. Systems, is headquartered in Woodcliff Lake, New Jersey. “
  • 5/21/2022 – PowerFleet is now covered by analysts at StockNews.com. They set a “hold” rating on the stock.
  • 5/13/2022 – PowerFleet is now covered by analysts at StockNews.com. They set a “hold” rating on the stock.
  • 5/11/2022 – PowerFleet was upgraded by analysts at Zacks Investment Research from a “sell” rating to a “hold” rating. According to Zacks, “PowerFleet Inc. is a provider of subscription-based wireless IoT and M2M solutions for securing, controlling, tracking and managing enterprise assets such as industrial trucks, tractor trailers, containers, cargo and vehicles and truck fleets. Its brand consists of PowerFleet, Pointer and Cellocator. PowerFleet Inc., formerly known as I.D. Systems, is headquartered in Woodcliff Lake, New Jersey. “
  • 5/11/2022 – PowerFleet had its price target lowered by analysts at Canaccord Genuity Group Inc. from $9.00 to $6.00. They now have a “buy” rating on the stock.
  • 5/10/2022 – PowerFleet was downgraded by analysts at Barrington Research from an “outperform” rating to a “market perform” rating.

Shares of NASDAQ:PWFL traded down $0.09 during trading on Wednesday, hitting $2.28. The company’s stock had a trading volume of 291 shares, compared to its average volume of 76,893. The business has a 50 day moving average price of $2.73 and a two-hundred day moving average price of $3.88. The company has a market capitalization of $82.42 million, a PE ratio of -4.07 and a beta of 1.72. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.45 and a current ratio of 1.91. PowerFleet, Inc. has a fifty-two week low of $2.16 and a fifty-two week high of $7.74.

PowerFleet (NASDAQ:PWFL – Get Rating) last posted its quarterly earnings results on Wednesday, March 9th. The company reported ($0.23) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.14). The business had revenue of $34.42 million during the quarter, compared to analyst estimates of $31.45 million. PowerFleet had a negative net margin of 11.07% and a negative return on equity of 15.11%. As a group, equities analysts expect that PowerFleet, Inc. will post -0.39 earnings per share for the current fiscal year.

In other PowerFleet news, Director Charles Frumberg sold 11,716 shares of PowerFleet stock in a transaction that occurred on Monday, May 16th. The stock was sold at an average price of $2.24, for a total transaction of $26,243.84. Following the transaction, the director now owns 27,699 shares of the company’s stock, valued at $62,045.76. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Steven Mark Towe purchased 31,754 shares of the business’s stock in a transaction on Wednesday, March 16th. The shares were purchased at an average cost of $3.15 per share, for a total transaction of $100,025.10. The disclosure for this purchase can be found here. 10.24% of the stock is currently owned by company insiders.

Several hedge funds have recently made changes to their positions in the business. Lynrock Lake LP grew its stake in shares of PowerFleet by 83.3% in the 4th quarter. Lynrock Lake LP now owns 3,580,966 shares of the company’s stock valued at $16,974,000 after purchasing an additional 1,627,745 shares during the last quarter. Private Capital Management LLC boosted its stake in shares of PowerFleet by 57.3% in the fourth quarter. Private Capital Management LLC now owns 2,087,398 shares of the company’s stock valued at $9,894,000 after buying an additional 760,602 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of PowerFleet by 2.8% in the first quarter. Vanguard Group Inc. now owns 1,577,760 shares of the company’s stock valued at $4,686,000 after buying an additional 43,027 shares in the last quarter. Royce & Associates LP boosted its stake in shares of PowerFleet by 1.7% in the first quarter. Royce & Associates LP now owns 1,197,534 shares of the company’s stock valued at $3,557,000 after buying an additional 20,000 shares in the last quarter. Finally, Jacob Asset Management of New York LLC boosted its stake in shares of PowerFleet by 11.3% in the fourth quarter. Jacob Asset Management of New York LLC now owns 785,339 shares of the company’s stock valued at $3,723,000 after buying an additional 80,000 shares in the last quarter. Institutional investors own 68.25% of the company’s stock.

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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