PowerFleet (NASDAQ:PWFL) Lifted to “Hold” at StockNews.com

StockNews.com upgraded shares of PowerFleet (NASDAQ:PWFL) from a sell rating to a hold rating in a report issued on Thursday morning.

Several other research firms have also recently weighed in on PWFL. Northland Securities started coverage on shares of PowerFleet in a research report on Monday, March 18th. They issued an outperform rating and a $7.00 price objective for the company. TheStreet raised shares of PowerFleet from a d rating to a c- rating in a research note on Thursday, March 14th. Lake Street Capital raised their target price on shares of PowerFleet from $4.00 to $7.00 and gave the company a buy rating in a research note on Wednesday, March 13th. William Blair reaffirmed an outperform rating on shares of PowerFleet in a research note on Wednesday, May 1st. Finally, Canaccord Genuity Group raised their target price on shares of PowerFleet from $6.00 to $10.00 and gave the company a buy rating in a research note on Wednesday, March 13th. One research analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of Moderate Buy and an average price target of $8.43.

PowerFleet Stock Performance

Shares of PWFL stock opened at $4.57 on Thursday. PowerFleet has a 52-week low of $1.64 and a 52-week high of $5.67. The stock has a market cap of $490.59 million, a price-to-earnings ratio of -14.74 and a beta of 1.75. The firm has a fifty day moving average of $4.85 and a 200-day moving average of $3.97.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the stock. Virtu Financial LLC bought a new position in PowerFleet in the first quarter valued at approximately $331,000. Ancora Advisors LLC acquired a new stake in shares of PowerFleet in the first quarter valued at approximately $1,258,000. Kennedy Capital Management LLC raised its holdings in shares of PowerFleet by 3.7% in the first quarter. Kennedy Capital Management LLC now owns 145,735 shares of the company’s stock valued at $778,000 after purchasing an additional 5,160 shares during the last quarter. Black Maple Capital Management LP acquired a new stake in shares of PowerFleet in the first quarter valued at approximately $185,000. Finally, Perritt Capital Management Inc. raised its holdings in shares of PowerFleet by 1.2% in the first quarter. Perritt Capital Management Inc. now owns 307,922 shares of the company’s stock valued at $1,644,000 after purchasing an additional 3,734 shares during the last quarter. Institutional investors own 73.40% of the company’s stock.

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.