A number of other equities research analysts have also weighed in on the company. Canaccord Genuity Group lowered their price objective on PowerFleet from $9.00 to $6.00 and set a buy rating on the stock in a report on Wednesday, May 11th. Barrington Research lowered PowerFleet from an outperform rating to a market perform rating in a research note on Tuesday, May 10th. Two investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of Moderate Buy and a consensus price target of $7.33.
PowerFleet Stock Performance
Shares of PWFL stock opened at $2.75 on Monday. The stock has a market capitalization of $99.35 million, a PE ratio of -4.91 and a beta of 1.67. PowerFleet has a 52-week low of $2.06 and a 52-week high of $7.38. The stock’s 50-day moving average price is $2.36 and its 200 day moving average price is $2.89. The company has a quick ratio of 1.45, a current ratio of 1.91 and a debt-to-equity ratio of 0.18.
Insider Transactions at PowerFleet
In related news, Director Charles Frumberg sold 11,716 shares of the company’s stock in a transaction that occurred on Monday, May 16th. The stock was sold at an average price of $2.24, for a total value of $26,243.84. Following the sale, the director now owns 27,699 shares of the company’s stock, valued at approximately $62,045.76. The transaction was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 4.30% of the company’s stock.
Institutional Investors Weigh In On PowerFleet
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Lynrock Lake LP raised its holdings in PowerFleet by 83.3% in the 4th quarter. Lynrock Lake LP now owns 3,580,966 shares of the company’s stock valued at $16,974,000 after acquiring an additional 1,627,745 shares during the last quarter. Private Capital Management LLC raised its holdings in PowerFleet by 57.3% in the 4th 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 last quarter. Penn Capital Management Company LLC acquired a new position in PowerFleet in the 1st quarter valued at $715,000. Royce & Associates LP raised its holdings in PowerFleet by 18.2% in the 4th quarter. Royce & Associates LP now owns 1,177,534 shares of the company’s stock valued at $5,582,000 after acquiring an additional 181,134 shares during the last quarter. Finally, Potomac Capital Management Inc. acquired a new position in PowerFleet in the 4th quarter valued at $806,000. Hedge funds and other institutional investors own 68.25% of the company’s stock.
PowerFleet Company Profile
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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