Craig Hallum Initiates Coverage on PowerFleet (NASDAQ:PWFL)

Equities research analysts at Craig Hallum assumed coverage on shares of PowerFleet (NASDAQ:PWFLGet Free Report) in a research report issued on Friday, Briefing.com reports. The brokerage set a “buy” rating and a $9.00 price target on the stock. Craig Hallum’s price target would indicate a potential upside of 138.73% from the stock’s previous close.

Separately, Lake Street Capital reiterated a “buy” rating and set a $4.00 target price on shares of PowerFleet in a report on Thursday, December 28th. One analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, PowerFleet presently has an average rating of “Moderate Buy” and a consensus price target of $7.25.

Get Our Latest Analysis on PowerFleet

PowerFleet Stock Up 5.9 %

Shares of NASDAQ:PWFL opened at $3.77 on Friday. The stock’s 50-day moving average price is $3.16 and its two-hundred day moving average price is $2.58. The company has a current ratio of 1.71, a quick ratio of 1.28 and a debt-to-equity ratio of 0.12. PowerFleet has a 12-month low of $1.64 and a 12-month high of $4.19. The firm has a market cap of $140.28 million, a price-to-earnings ratio of -12.16 and a beta of 1.64.

Institutional Trading of PowerFleet

Large investors have recently made changes to their positions in the stock. Captrust Financial Advisors increased its holdings in PowerFleet by 25.0% during the 2nd quarter. Captrust Financial Advisors now owns 16,015 shares of the company’s stock valued at $35,000 after purchasing an additional 3,200 shares in the last quarter. Bank of America Corp DE raised its stake in PowerFleet by 14,257.9% in the first quarter. Bank of America Corp DE now owns 10,912 shares of the company’s stock valued at $37,000 after buying an additional 10,836 shares during the period. Engineers Gate Manager LP bought a new position in shares of PowerFleet during the first quarter worth approximately $39,000. Millennium Management LLC acquired a new stake in PowerFleet during the fourth quarter worth approximately $56,000. Finally, LPL Financial LLC boosted its holdings in shares of PowerFleet by 81.7% in the 2nd quarter. LPL Financial LLC now owns 18,954 shares of the company’s stock valued at $57,000 after purchasing an additional 8,525 shares in the last quarter. Institutional investors own 85.26% of the company’s stock.

About PowerFleet

(Get Free Report)

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.

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