PowerFleet’s (PWFL) Outperform Rating Reaffirmed at Raymond James

PowerFleet (NASDAQ:PWFLGet Free Report)‘s stock had its “outperform” rating reiterated by equities researchers at Raymond James in a note issued to investors on Tuesday, MarketBeat Ratings reports. They currently have a $7.00 price target on the stock. Raymond James’ price objective indicates a potential upside of 42.28% from the stock’s previous close.

PWFL has been the topic of a number of other reports. Northland Securities assumed coverage on shares of PowerFleet in a research report on Monday, March 18th. They issued an “outperform” rating and a $7.00 price objective on the stock. TheStreet upgraded shares of PowerFleet from a “d” rating to a “c-” rating in a research report on Thursday, March 14th. Canaccord Genuity Group boosted their target price on shares of PowerFleet from $6.00 to $10.00 and gave the stock a “buy” rating in a research report on Wednesday, March 13th. Lake Street Capital boosted their target price on shares of PowerFleet from $4.00 to $7.00 and gave the stock a “buy” rating in a research report on Wednesday, March 13th. Finally, Craig Hallum started coverage on shares of PowerFleet in a research report on Friday, March 15th. They set a “buy” rating and a $9.00 target price on the stock. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $8.00.

Check Out Our Latest Research Report on PWFL

PowerFleet Stock Performance

NASDAQ:PWFL opened at $4.92 on Tuesday. The firm’s fifty day moving average price is $3.49 and its 200 day moving average price is $2.78. PowerFleet has a 1-year low of $1.64 and a 1-year high of $5.64. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.71 and a quick ratio of 1.28. The firm has a market cap of $183.07 million, a price-to-earnings ratio of -15.87 and a beta of 1.72.

Institutional Investors Weigh In On PowerFleet

Institutional investors have recently bought and sold shares of the business. Kennedy Capital Management LLC purchased a new position in PowerFleet during the 3rd quarter valued at about $87,000. Perritt Capital Management Inc. grew its stake in 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 acquiring an additional 53,300 shares in the last quarter. AWM Investment Company Inc. grew its stake in 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 acquiring an additional 147,408 shares in the last quarter. Worth Venture Partners LLC grew its stake in 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 acquiring an additional 4,679 shares in the last quarter. Finally, Private Capital Management LLC grew its stake in PowerFleet by 16.2% during the 2nd quarter. Private Capital Management LLC now owns 5,053,680 shares of the company’s stock valued at $15,161,000 after acquiring an additional 704,677 shares in the last quarter. 73.40% of the stock is currently owned by institutional investors and hedge funds.

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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Analyst Recommendations for PowerFleet (NASDAQ:PWFL)

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