PowerFleet (NASDAQ:PWFL) Stock Rating Reaffirmed by Barrington Research

Barrington Research restated their outperform rating on shares of PowerFleet (NASDAQ:PWFL) in a research note published on Wednesday, Benzinga reports. They currently have a $7.00 price target on the stock.

A number of other equities analysts have also commented on PWFL. Lake Street Capital cut their price objective on PowerFleet from $5.00 to $4.00 and set a buy rating on the stock in a research note on Wednesday, August 9th. Roth Mkm reaffirmed a buy rating and set a $9.00 target price on shares of PowerFleet in a research note on Tuesday, August 29th. Finally, StockNews.com assumed coverage on PowerFleet in a research note on Thursday, October 5th. They set a hold rating for the company.

PowerFleet Price Performance

PowerFleet stock opened at $2.35 on Wednesday. The stock’s 50 day moving average is $2.05 and its 200 day moving average is $2.51. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.71 and a quick ratio of 1.36. The firm has a market cap of $87.44 million, a P/E ratio of -9.04 and a beta of 1.47. PowerFleet has a one year low of $1.64 and a one year high of $3.49.

PowerFleet (NASDAQ:PWFL) last posted its quarterly earnings data on Thursday, November 9th. The company reported ($0.14) EPS for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.05). The company had revenue of $34.20 million during the quarter, compared to analyst estimates of $33.60 million. PowerFleet had a negative return on equity of 4.20% and a negative net margin of 2.68%. As a group, research analysts expect that PowerFleet will post -0.13 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Captrust Financial Advisors raised its stake in PowerFleet by 25.0% during the 2nd quarter. Captrust Financial Advisors now owns 16,015 shares of the company’s stock worth $35,000 after buying an additional 3,200 shares during the period. Bank of America Corp DE raised its stake in PowerFleet by 14,257.9% during the 1st quarter. Bank of America Corp DE now owns 10,912 shares of the company’s stock worth $37,000 after buying an additional 10,836 shares during the period. Engineers Gate Manager LP acquired a new position in PowerFleet during the 1st quarter worth approximately $39,000. CHICAGO TRUST Co NA boosted its stake in PowerFleet by 34.7% during the 2nd quarter. CHICAGO TRUST Co NA now owns 14,765 shares of the company’s stock valued at $44,000 after purchasing an additional 3,800 shares during the last quarter. Finally, Millennium Management LLC acquired a new position in PowerFleet during the 4th quarter valued at about $56,000. 85.26% of the stock is 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.