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

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

PWFL has been the topic of a number of research reports. William Blair restated an “outperform” rating on shares of PowerFleet in a report on Wednesday, May 1st. Canaccord Genuity Group increased their price objective on PowerFleet from $6.00 to $10.00 and gave the company a “buy” rating in a report on Wednesday, March 13th. Lake Street Capital lifted 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. Barrington Research lifted their price target on PowerFleet from $7.00 to $10.00 and gave the stock an “outperform” rating in a report on Tuesday, April 30th. Finally, Northland Securities assumed coverage on PowerFleet in a research note on Monday, March 18th. They issued an “outperform” rating and a $7.00 price objective on the stock.

PowerFleet Stock Down 3.1 %

NASDAQ:PWFL opened at $4.96 on Friday. The stock has a market cap of $535.28 million, a price-to-earnings ratio of -16.00 and a beta of 1.75. The company has a current ratio of 1.71, a quick ratio of 1.28 and a debt-to-equity ratio of 0.12. The stock has a 50-day moving average price of $4.22 and a two-hundred day moving average price of $3.23. PowerFleet has a 1 year low of $1.64 and a 1 year high of $5.67.

PowerFleet (NASDAQ:PWFL) last posted its earnings results on Tuesday, March 12th. The company reported ($0.13) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.06). PowerFleet had a negative return on equity of 6.08% and a negative net margin of 3.86%. The business had revenue of $34.50 million for the quarter, compared to the consensus estimate of $33.23 million. As a group, equities analysts expect that PowerFleet will post 0.12 earnings per share for the current year.

Hedge Funds Weigh In On PowerFleet

Hedge funds and other institutional investors have recently made changes to their positions in the company. Worth Venture Partners LLC grew its position in PowerFleet by 17.7% in the third 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 during the last quarter. SG Americas Securities LLC bought a new stake in shares of PowerFleet during the 1st quarter valued at approximately $65,000. Kennedy Capital Management LLC acquired a new position in PowerFleet during the 3rd quarter worth approximately $87,000. Victory Capital Management Inc. bought a new position in PowerFleet in the 4th quarter valued at approximately $112,000. Finally, Sierra Summit Advisors LLC acquired a new stake in PowerFleet in the fourth quarter valued at approximately $121,000. 73.40% of the stock is currently 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.