Investment Analysts’ Weekly Ratings Changes for PowerFleet (PWFL)

PowerFleet (NASDAQ: PWFL) recently received a number of ratings updates from brokerages and research firms:

• 3/18/2024 – PowerFleet is now covered by analysts at Northland Securities. They set an “outperform” rating and a $7.00 price target on the stock.
• 3/15/2024 – PowerFleet is now covered by analysts at Craig Hallum. They set a “buy” rating and a $9.00 price target on the stock.
• 3/14/2024 – PowerFleet was upgraded by analysts at TheStreet from a “d” rating to a “c-” rating.
• 3/13/2024 – PowerFleet had its price target raised by analysts at Canaccord Genuity Group Inc. from $6.00 to $10.00. They now have a “buy” rating on the stock.
• 3/13/2024 – PowerFleet had its price target raised by analysts at Lake Street Capital from $4.00 to $7.00. They now have a “buy” rating on the stock.

PowerFleet Stock Performance

NASDAQ PWFL traded up $0.40 on Thursday, hitting $5.34. 1,738,727 shares of the company’s stock were exchanged, compared to its average volume of 469,379. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.71 and a quick ratio of 1.28. The firm’s 50-day moving average price is $3.38 and its two-hundred day moving average price is $2.72. PowerFleet, Inc. has a fifty-two week low of $1.64 and a fifty-two week high of $5.49. The firm has a market cap of $198.70 million, a price-to-earnings ratio of -17.23 and a beta of 1.64.

Institutional Investors Weigh In On PowerFleet

Several institutional investors have recently modified their holdings of PWFL. Dimensional Fund Advisors LP lifted its stake in PowerFleet by 23.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 247,548 shares of the company’s stock valued at $735,000 after buying an additional 47,644 shares in the last quarter. Vanguard Group Inc. raised its holdings in PowerFleet by 2.8% in the 1st quarter. Vanguard Group Inc. now owns 1,577,760 shares of the company’s stock valued at $4,686,000 after acquiring an additional 43,027 shares during the last quarter. Engineers Gate Manager LP acquired a new position in PowerFleet in the 1st quarter valued at $39,000. State Street Corp raised its holdings in PowerFleet by 5.1% in the 1st quarter. State Street Corp now owns 121,623 shares of the company’s stock valued at $361,000 after acquiring an additional 5,873 shares during the last quarter. Finally, Penn Capital Management Company LLC acquired a new position in PowerFleet in the 1st quarter valued at $715,000. Hedge funds and other institutional investors own 73.40% of the company’s stock.

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.