StockNews.com Initiates Coverage on PowerFleet (NASDAQ:PWFL)

StockNews.com assumed coverage on shares of PowerFleet (NASDAQ:PWFL) in a report issued on Sunday morning. The firm issued a sell rating on the stock.

A number of other equities analysts also recently commented on the stock. Barrington Research lifted their price objective on shares of PowerFleet from $7.00 to $10.00 and gave the stock an outperform rating in a report on Tuesday, April 30th. Raymond James reaffirmed an outperform rating and issued a $7.00 price target on shares of PowerFleet in a report on Tuesday, April 2nd. Finally, William Blair reiterated an outperform rating on shares of PowerFleet in a research note on Wednesday, May 1st. One investment analyst has rated the stock with a sell rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, PowerFleet presently has a consensus rating of Moderate Buy and an average target price of $8.43.

PowerFleet Stock Performance

The company has a market cap of $490.59 million, a P/E ratio of -14.74 and a beta of 1.69. The business’s 50 day moving average price is $4.88 and its 200 day moving average price is $4.04. PowerFleet has a 1-year low of $1.64 and a 1-year high of $5.67.

Institutional Investors Weigh In On PowerFleet

Several large investors have recently made changes to their positions in PWFL. Perritt Capital Management Inc. grew its holdings in PowerFleet by 4.7% in the 4th quarter. Perritt Capital Management Inc. now owns 304,188 shares of the company’s stock worth $1,040,000 after buying an additional 13,700 shares in the last quarter. Millrace Asset Group Inc. acquired a new position in shares of PowerFleet during the fourth quarter valued at $754,000. Equitable Trust Co. increased its holdings in shares of PowerFleet by 35.1% during the fourth quarter. Equitable Trust Co. now owns 269,992 shares of the company’s stock valued at $923,000 after purchasing an additional 70,198 shares during the period. Victory Capital Management Inc. bought a new stake in shares of PowerFleet during the fourth quarter valued at about $112,000. Finally, Worth Venture Partners LLC lifted its holdings in PowerFleet by 47.3% in the fourth quarter. Worth Venture Partners LLC now owns 45,840 shares of the company’s stock worth $157,000 after purchasing an additional 14,729 shares during the period. Institutional investors and hedge funds own 73.40% of the company’s stock.

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.