PowerFleet (NASDAQ:PWFL) Price Target Increased to $10.00 by Analysts at Barrington Research

PowerFleet (NASDAQ:PWFL) had its price objective boosted by Barrington Research from $7.00 to $10.00 in a report released on Tuesday morning, Benzinga reports. The brokerage currently has an outperform rating on the stock.

Several other research analysts have also recently commented on the stock. TheStreet upgraded shares of PowerFleet from a d rating to a c- rating in a report on Thursday, March 14th. Craig Hallum assumed coverage on shares of PowerFleet in a research note on Friday, March 15th. They set a buy rating and a $9.00 target price for the company. Lake Street Capital increased their target price on PowerFleet from $4.00 to $7.00 and gave the company a buy rating in a report on Wednesday, March 13th. William Blair began coverage on PowerFleet in a report on Wednesday, April 3rd. They set an outperform rating for the company. Finally, Raymond James reaffirmed an outperform rating and set a $7.00 price objective on shares of PowerFleet in a research report on Tuesday, April 2nd. One investment analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and a consensus price target of $8.43.

PowerFleet Price Performance

NASDAQ:PWFL opened at $5.01 on Tuesday. PowerFleet has a 12-month low of $1.64 and a 12-month high of $5.67. 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 fifty day moving average price of $4.10 and a 200 day moving average price of $3.15.

PowerFleet (NASDAQ:PWFL) last announced its quarterly earnings data on Tuesday, March 12th. The company reported ($0.13) earnings per share (EPS) for the quarter, missing the consensus estimate 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 company had revenue of $34.50 million during the quarter, compared to analysts’ expectations of $33.23 million. Equities analysts expect that PowerFleet will post -0.17 earnings per share for the current fiscal year.

Institutional Investors Weigh In On PowerFleet

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Private Capital Management LLC increased its position in shares of PowerFleet by 10.5% during the fourth quarter. Private Capital Management LLC now owns 5,778,189 shares of the company’s stock worth $19,761,000 after purchasing an additional 549,495 shares in the last quarter. Pinnacle Associates Ltd. purchased a new position in PowerFleet during the 1st quarter worth approximately $1,377,000. Millrace Asset Group Inc. acquired a new position in PowerFleet during the fourth quarter worth approximately $754,000. AWM Investment Company Inc. increased its position in PowerFleet by 5.2% during the third quarter. AWM Investment Company Inc. now owns 2,974,946 shares of the company’s stock worth $6,158,000 after buying an additional 147,408 shares during the period. Finally, Symmetry Peak Management LLC purchased a new stake in PowerFleet in the fourth quarter valued at approximately $479,000. 73.40% of the stock is owned by hedge funds and other institutional investors.

PowerFleet Company Profile

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.