PowerFleet (PWFL) – Analysts’ Weekly Ratings Changes

A number of firms have modified their ratings and price targets on shares of PowerFleet (NASDAQ: PWFL) recently:

  • 5/13/2022 – PowerFleet is now covered by analysts at StockNews.com. They set a “hold” rating on the stock.
  • 5/11/2022 – PowerFleet was upgraded by analysts at Zacks Investment Research from a “sell” rating to a “hold” rating. According to Zacks, “PowerFleet Inc. is a provider of subscription-based wireless IoT and M2M solutions for securing, controlling, tracking and managing enterprise assets such as industrial trucks, tractor trailers, containers, cargo and vehicles and truck fleets. Its brand consists of PowerFleet, Pointer and Cellocator. PowerFleet Inc., formerly known as I.D. Systems, is headquartered in Woodcliff Lake, New Jersey. “
  • 5/11/2022 – PowerFleet had its price target lowered by analysts at Canaccord Genuity Group Inc. from $9.00 to $6.00. They now have a “buy” rating on the stock.
  • 5/10/2022 – PowerFleet was downgraded by analysts at Barrington Research from an “outperform” rating to a “market perform” rating.
  • 3/31/2022 – PowerFleet is now covered by analysts at StockNews.com. They set a “hold” rating on the stock.

PowerFleet stock traded down $0.05 during midday trading on Monday, hitting $2.23. The stock had a trading volume of 704 shares, compared to its average volume of 113,346. The company has a current ratio of 1.91, a quick ratio of 1.57 and a debt-to-equity ratio of 0.18. The stock has a market cap of $80.61 million, a P/E ratio of -3.98 and a beta of 1.72. PowerFleet, Inc. has a 12 month low of $2.21 and a 12 month high of $7.74. The business has a fifty day moving average price of $2.93 and a 200 day moving average price of $4.24.

PowerFleet (NASDAQ:PWFLGet Rating) last announced its quarterly earnings data on Wednesday, March 9th. The company reported ($0.23) earnings per share for the quarter, missing the consensus estimate of ($0.09) by ($0.14). The firm had revenue of $34.42 million during the quarter, compared to the consensus estimate of $31.45 million. PowerFleet had a negative net margin of 11.07% and a negative return on equity of 15.11%. On average, equities analysts anticipate that PowerFleet, Inc. will post -0.32 EPS for the current fiscal year.

In related news, Director Michael Brodsky bought 18,226 shares of the firm’s stock in a transaction on Tuesday, March 15th. The stock was bought at an average cost of $2.91 per share, for a total transaction of $53,037.66. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Steven Mark Towe bought 31,754 shares of the firm’s stock in a transaction on Wednesday, March 16th. The stock was bought at an average price of $3.15 per share, with a total value of $100,025.10. The disclosure for this purchase can be found here. 10.24% of the stock is owned by insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Lynrock Lake LP increased its stake in shares of PowerFleet by 83.3% in the fourth quarter. Lynrock Lake LP now owns 3,580,966 shares of the company’s stock worth $16,974,000 after acquiring an additional 1,627,745 shares during the last quarter. Private Capital Management LLC boosted its holdings in PowerFleet by 57.3% during the fourth quarter. Private Capital Management LLC now owns 2,087,398 shares of the company’s stock valued at $9,894,000 after acquiring an additional 760,602 shares during the period. Brandywine Global Investment Management LLC boosted its holdings in PowerFleet by 81.0% during the third quarter. Brandywine Global Investment Management LLC now owns 902,700 shares of the company’s stock valued at $6,048,000 after acquiring an additional 403,926 shares during the period. Royce & Associates LP raised its position in shares of PowerFleet by 18.2% during the fourth quarter. Royce & Associates LP now owns 1,177,534 shares of the company’s stock valued at $5,582,000 after buying an additional 181,134 shares during the last quarter. Finally, Potomac Capital Management Inc. acquired a new position in shares of PowerFleet during the fourth quarter valued at about $806,000. 68.25% of the stock is currently owned by institutional investors.

PowerFleet, Inc provides wireless Internet-of-Things 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.

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