PowerFleet (NASDAQ:PWFL) Earns Hold Rating from Analysts at StockNews.com

StockNews.com started coverage on shares of PowerFleet (NASDAQ:PWFLGet Rating) in a report issued on Monday. The brokerage set a “hold” rating on the stock.

Other equities analysts also recently issued research reports about the stock. Canaccord Genuity Group cut their target price on shares of PowerFleet from $9.00 to $6.00 and set a “buy” rating on the stock in a research note on Wednesday, May 11th. Canaccord Genuity Group lowered their price target on shares of PowerFleet from $12.00 to $9.00 and set a “buy” rating for the company in a report on Thursday, March 10th. Zacks Investment Research raised shares of PowerFleet from a “sell” rating to a “hold” rating in a report on Tuesday, May 31st. Barrington Research lowered shares of PowerFleet from an “outperform” rating to a “market perform” rating in a report on Tuesday, May 10th. Finally, Lake Street Capital lowered their price target on shares of PowerFleet from $9.00 to $7.00 in a report on Thursday, March 10th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, PowerFleet presently has an average rating of “Hold” and an average price target of $7.33.

NASDAQ:PWFL opened at $2.31 on Monday. The firm’s 50 day moving average is $2.66 and its two-hundred day moving average is $3.79. PowerFleet has a fifty-two week low of $2.16 and a fifty-two week high of $7.74. The company has a quick ratio of 1.45, a current ratio of 1.91 and a debt-to-equity ratio of 0.18. The company has a market cap of $83.50 million, a P/E ratio of -4.12 and a beta of 1.73.

PowerFleet (NASDAQ:PWFLGet Rating) last issued its earnings results on Wednesday, March 9th. The company reported ($0.23) EPS for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.14). PowerFleet had a negative net margin of 11.07% and a negative return on equity of 15.11%. The business had revenue of $34.42 million during the quarter, compared to analysts’ expectations of $31.45 million. Research analysts forecast that PowerFleet will post -0.39 earnings per share for the current fiscal year.

In related news, CEO Steven Mark Towe acquired 31,754 shares of the firm’s stock in a transaction on Wednesday, March 16th. The stock was bought at an average cost of $3.15 per share, with a total value of $100,025.10. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, Director Charles Frumberg sold 11,716 shares of the firm’s stock in a transaction 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 directly owns 27,699 shares of the company’s stock, valued at $62,045.76. The disclosure for this sale can be found here. 10.24% of the stock is owned by company insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Penn Capital Management Company LLC bought a new position in PowerFleet in the 1st quarter worth about $715,000. State Street Corp grew its position in PowerFleet by 5.1% in the 1st quarter. State Street Corp now owns 121,623 shares of the company’s stock worth $361,000 after purchasing an additional 5,873 shares during the last quarter. Engineers Gate Manager LP bought a new position in PowerFleet in the 1st quarter worth about $39,000. Vanguard Group Inc. grew its position in PowerFleet by 2.8% in the 1st quarter. Vanguard Group Inc. now owns 1,577,760 shares of the company’s stock worth $4,686,000 after purchasing an additional 43,027 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its position in PowerFleet by 23.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 247,548 shares of the company’s stock worth $735,000 after purchasing an additional 47,644 shares during the last quarter. Hedge funds and other institutional investors own 68.25% of the company’s stock.

PowerFleet Company Profile (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.

See Also

Want More Great Investing Ideas?

Receive News & Ratings for PowerFleet Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PowerFleet and related companies with MarketBeat.com's FREE daily email newsletter.