StockNews.com Upgrades PowerFleet (NASDAQ:PWFL) to Buy

PowerFleet (NASDAQ:PWFL – Get Rating) was upgraded by investment analysts at StockNews.com from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Friday.

PowerFleet Stock Performance

Shares of PWFL stock opened at $2.92 on Friday. The company’s 50 day moving average is $2.74 and its 200 day moving average is $2.80. The company has a quick ratio of 1.28, a current ratio of 1.78 and a debt-to-equity ratio of 0.14. PowerFleet has a 52-week low of $2.06 and a 52-week high of $3.97. The firm has a market cap of $105.62 million, a price-to-earnings ratio of -8.59 and a beta of 1.44.

Institutional Trading of PowerFleet

Institutional investors and hedge funds have recently modified their holdings of the stock. Boothbay Fund Management LLC lifted its holdings in shares of PowerFleet by 40.1% in the 4th quarter. Boothbay Fund Management LLC now owns 97,157 shares of the company’s stock worth $261,000 after acquiring an additional 27,787 shares during the last quarter. Jane Street Group LLC increased its position in shares of PowerFleet by 26.2% in the 2nd quarter. Jane Street Group LLC now owns 73,207 shares of the company’s stock valued at $159,000 after purchasing an additional 15,198 shares during the last quarter. Susquehanna International Group LLP grew its position in shares of PowerFleet by 40.4% in the 4th quarter. Susquehanna International Group LLP now owns 57,724 shares of the company’s stock valued at $155,000 after buying an additional 16,621 shares during the last quarter. Millennium Management LLC purchased a new position in shares of PowerFleet in the 4th quarter valued at $56,000. Finally, Engineers Gate Manager LP purchased a new position in shares of PowerFleet in the 1st quarter valued at $39,000. Hedge funds and other institutional investors own 67.39% of the company’s stock.

About PowerFleet

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PowerFleet, Inc engages in the provision of fleet management solutions for logistics, industrial, and vehicles. It offers wireless Internet of Things and machine to machine solutions for securing, controlling, tracking, and managing enterprise assets such as industrial trucks, tractor trailers, containers, cargo, and vehicle and truck fleets.