StockNews.com Downgrades PowerFleet (NASDAQ:PWFL) to Sell

PowerFleet (NASDAQ:PWFLGet Free Report) was downgraded by research analysts at StockNews.com from a “hold” rating to a “sell” rating in a report issued on Monday.

Several other brokerages have also recently weighed in on PWFL. Craig Hallum assumed coverage on shares of PowerFleet in a research note on Friday, March 15th. They issued a “buy” rating and a $9.00 price objective for the company. Canaccord Genuity Group boosted their price target on PowerFleet from $6.00 to $10.00 and gave the company a “buy” rating in a research note on Wednesday, March 13th. Raymond James restated an “outperform” rating and set a $7.00 price objective on shares of PowerFleet in a research note on Tuesday, April 2nd. Lake Street Capital upped their target price on PowerFleet from $4.00 to $7.00 and gave the company a “buy” rating in a research report on Wednesday, March 13th. Finally, William Blair reissued an “outperform” rating on shares of PowerFleet in a report on Wednesday, May 1st. One analyst has rated the stock with a sell rating and eight have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $8.43.

Check Out Our Latest Research Report on PWFL

PowerFleet Stock Down 0.5 %

Shares of NASDAQ:PWFL opened at $5.45 on Monday. The stock has a market cap of $585.06 million, a PE ratio of -17.68 and a beta of 1.75. PowerFleet has a 12-month low of $1.64 and a 12-month high of $5.67. The business has a 50 day moving average of $4.38 and a 200-day moving average of $3.32.

PowerFleet (NASDAQ:PWFLGet Free Report) last issued its quarterly earnings data on Tuesday, March 12th. The company reported ($0.13) EPS for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.06). The firm had revenue of $34.50 million during the quarter, compared to analyst estimates of $33.23 million. PowerFleet had a negative net margin of 3.86% and a negative return on equity of 6.61%. Equities research analysts expect that PowerFleet will post 0.12 earnings per share for the current year.

Hedge Funds Weigh In On PowerFleet

Institutional investors have recently modified their holdings of the business. Worth Venture Partners LLC grew its position in PowerFleet by 17.7% in the third quarter. Worth Venture Partners LLC now owns 31,111 shares of the company’s stock valued at $64,000 after acquiring an additional 4,679 shares during the last quarter. SG Americas Securities LLC bought a new stake in shares of PowerFleet during the 1st quarter valued at approximately $65,000. Kennedy Capital Management LLC acquired a new position in PowerFleet during the 3rd quarter worth approximately $87,000. Victory Capital Management Inc. bought a new position in PowerFleet in the 4th quarter valued at approximately $112,000. Finally, Sierra Summit Advisors LLC bought a new position in PowerFleet in the 4th quarter valued at approximately $121,000. Institutional investors and hedge funds own 73.40% of the company’s stock.

About PowerFleet

(Get Free Report)

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.

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Analyst Recommendations for PowerFleet (NASDAQ:PWFL)

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