PowerFleet, Inc. (NASDAQ:PWFL) Given Average Recommendation of “Buy” by Brokerages

PowerFleet, Inc. (NASDAQ:PWFL) has received a consensus recommendation of “Buy” from the eight research firms that are currently covering the stock, Marketbeat.com reports. Eight equities research analysts have rated the stock with a buy rating. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $8.43.

PWFL has been the subject of a number of recent analyst reports. Canaccord Genuity Group upped their price target on shares of PowerFleet from $6.00 to $10.00 and gave the company a “buy” rating in a report on Wednesday, March 13th. Northland Securities initiated coverage on shares of PowerFleet in a report on Monday, March 18th. They set an “outperform” rating and a $7.00 price target for the company. Craig Hallum initiated coverage on shares of PowerFleet in a report on Friday, March 15th. They set a “buy” rating and a $9.00 price target for the company. Raymond James reiterated an “outperform” rating and set a $7.00 price target on shares of PowerFleet in a report on Tuesday, April 2nd. Finally, Lake Street Capital boosted their price objective on shares of PowerFleet from $4.00 to $7.00 and gave the company a “buy” rating in a research report on Wednesday, March 13th.

PowerFleet Stock Performance

NASDAQ:PWFL opened at $4.99 on Friday. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.28 and a current ratio of 1.71. PowerFleet has a fifty-two week low of $1.64 and a fifty-two week high of $5.67. The firm has a market cap of $538.52 million, a PE ratio of -16.10 and a beta of 1.75. The business has a 50 day moving average price of $4.10 and a 200-day moving average price of $3.15.

PowerFleet (NASDAQ:PWFL) last posted its quarterly earnings results on Tuesday, March 12th. The company reported ($0.13) EPS for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.06). PowerFleet had a negative net margin of 3.86% and a negative return on equity of 6.08%. The firm had revenue of $34.50 million for the quarter, compared to the consensus estimate of $33.23 million. Equities research analysts predict that PowerFleet will post -0.17 earnings per share for the current year.

Institutional Trading of PowerFleet

Hedge funds and other institutional investors have recently modified their holdings of the business. Worth Venture Partners LLC grew its position in shares of PowerFleet by 17.7% in the 3rd quarter. Worth Venture Partners LLC now owns 31,111 shares of the company’s stock worth $64,000 after buying an additional 4,679 shares during the period. Victory Capital Management Inc. purchased a new stake in shares of PowerFleet in the 4th quarter worth about $112,000. Sierra Summit Advisors LLC purchased a new stake in shares of PowerFleet in the 4th quarter worth about $121,000. Kennedy Capital Management LLC purchased a new stake in shares of PowerFleet in the 3rd quarter worth about $87,000. Finally, Symmetry Peak Management LLC purchased a new stake in shares of PowerFleet in the 4th quarter worth about $479,000. 73.40% of the stock is owned by hedge funds and other institutional investors.

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.