PowerFleet (NASDAQ:PWFL) Given Outperform Rating at William Blair

PowerFleet (NASDAQ:PWFL)‘s stock had its “outperform” rating reiterated by analysts at William Blair in a report issued on Wednesday, RTT News reports.

A number of other research firms also recently issued reports on PWFL. Raymond James reaffirmed an “outperform” rating and set a $7.00 price target on shares of PowerFleet in a research note on Tuesday, April 2nd. Lake Street Capital boosted 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. TheStreet upgraded shares of PowerFleet from a “d” rating to a “c-” rating in a research report on Thursday, March 14th. Barrington Research boosted their price objective on shares of PowerFleet from $7.00 to $10.00 and gave the company an “outperform” rating in a research report on Tuesday. Finally, Canaccord Genuity Group boosted their price objective on shares of PowerFleet from $6.00 to $10.00 and gave the company a “buy” rating in a research report on Wednesday, March 13th. One investment analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $8.43.

PowerFleet Price Performance

PowerFleet stock traded up $0.14 during mid-day trading on Wednesday, reaching $4.93. 242,538 shares of the company’s stock traded hands, compared to its average volume of 571,922. The company has a market cap of $532.05 million, a price-to-earnings ratio of -15.93 and a beta of 1.72. The stock has a 50 day moving average of $4.02 and a two-hundred day moving average of $3.12. The company has a quick ratio of 1.28, a current ratio of 1.71 and a debt-to-equity ratio of 0.12. PowerFleet has a 12-month low of $1.64 and a 12-month high of $5.67.

PowerFleet (NASDAQ:PWFL) last released its quarterly 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). The business had revenue of $34.50 million for the quarter, compared to analysts’ expectations of $33.23 million. PowerFleet had a negative net margin of 3.86% and a negative return on equity of 6.08%. Equities analysts forecast that PowerFleet will post -0.17 earnings per share for the current year.

Institutional Trading of PowerFleet

Several hedge funds have recently modified their holdings of the company. Private Capital Management LLC raised its position in shares of PowerFleet by 10.5% in the 4th quarter. Private Capital Management LLC now owns 5,778,189 shares of the company’s stock valued at $19,761,000 after purchasing an additional 549,495 shares during the last quarter. AWM Investment Company Inc. increased its holdings in PowerFleet by 5.2% in the 3rd 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. Perritt Capital Management Inc. increased 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 during the period. Equitable Trust Co. increased its holdings in PowerFleet by 35.1% in the 4th quarter. Equitable Trust Co. now owns 269,992 shares of the company’s stock worth $923,000 after buying an additional 70,198 shares during the period. Finally, Pinnacle Associates Ltd. acquired a new position in PowerFleet in the 1st quarter worth approximately $1,377,000. 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.