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 published on Thursday.

Several other research firms have also weighed in on PWFL. TheStreet upgraded PowerFleet from a d rating to a c- rating in a research report on Thursday, March 14th. Canaccord Genuity Group lifted their price objective on PowerFleet from $6.00 to $10.00 and gave the company a buy rating in a research note on Wednesday, March 13th. Barrington Research boosted their price target on PowerFleet from $7.00 to $10.00 and gave the stock an outperform rating in a research note on Tuesday, April 30th. Craig Hallum initiated coverage on PowerFleet in a research note on Friday, March 15th. They issued a buy rating and a $9.00 price target for the company. Finally, William Blair restated an outperform rating on shares of PowerFleet in a research note on Wednesday, May 1st. One research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, PowerFleet presently has a consensus rating of Moderate Buy and a consensus target price of $8.43.

PowerFleet Stock Up 0.2 %

NASDAQ PWFL opened at $4.57 on Thursday. PowerFleet has a twelve month low of $1.64 and a twelve month high of $5.67. The firm has a market capitalization of $490.59 million, a PE ratio of -14.74 and a beta of 1.75. The stock’s 50 day moving average is $4.85 and its 200 day moving average is $3.97.

Institutional Trading of PowerFleet

Hedge funds have recently bought and sold shares of the company. Worth Venture Partners LLC grew its holdings in PowerFleet by 17.7% during the third quarter. Worth Venture Partners LLC now owns 31,111 shares of the company’s stock valued at $64,000 after purchasing an additional 4,679 shares during the period. SG Americas Securities LLC bought a new position in PowerFleet during the first quarter valued at approximately $65,000. Kennedy Capital Management LLC bought a new position in PowerFleet during the third quarter valued at approximately $87,000. Victory Capital Management Inc. bought a new position in PowerFleet during the fourth quarter valued at approximately $112,000. Finally, Sierra Summit Advisors LLC bought a new position in PowerFleet during the fourth quarter valued at approximately $121,000. Hedge funds and other institutional investors 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.