Victory Capital Management Inc. Takes $112,000 Position in PowerFleet, Inc. (NASDAQ:PWFL)

Victory Capital Management Inc. bought a new stake in PowerFleet, Inc. (NASDAQ:PWFLFree Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 32,876 shares of the company’s stock, valued at approximately $112,000. Victory Capital Management Inc. owned 0.09% of PowerFleet as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in PWFL. AWM Investment Company Inc. raised its stake in PowerFleet by 5.2% during the third quarter. AWM Investment Company Inc. now owns 2,974,946 shares of the company’s stock valued at $6,158,000 after buying an additional 147,408 shares during the last quarter. Potomac Capital Management Inc. raised its stake in PowerFleet by 36.7% during the third quarter. Potomac Capital Management Inc. now owns 216,571 shares of the company’s stock valued at $448,000 after buying an additional 58,088 shares during the last quarter. Perritt Capital Management Inc. raised its stake in PowerFleet by 22.5% during the third quarter. Perritt Capital Management Inc. now owns 290,488 shares of the company’s stock valued at $601,000 after buying an additional 53,300 shares during the last quarter. Kennedy Capital Management LLC purchased a new position in PowerFleet during the third quarter valued at $87,000. Finally, Worth Venture Partners LLC increased its holdings in shares of PowerFleet by 17.7% in the 3rd quarter. Worth Venture Partners LLC now owns 31,111 shares of the company’s stock worth $64,000 after purchasing an additional 4,679 shares in the last quarter. Hedge funds and other institutional investors own 73.40% of the company’s stock.

Analyst Ratings Changes

A number of analysts have commented on the company. Barrington Research lifted their target price on PowerFleet from $7.00 to $10.00 and gave the stock an “outperform” rating in a report on Tuesday, April 30th. Lake Street Capital lifted their target price on PowerFleet from $4.00 to $7.00 and gave the stock a “buy” rating in a report on Wednesday, March 13th. TheStreet raised PowerFleet from a “d” rating to a “c-” rating in a report on Thursday, March 14th. Raymond James reaffirmed an “outperform” rating and issued a $7.00 price objective on shares of PowerFleet in a report on Tuesday, April 2nd. Finally, Northland Securities began coverage on PowerFleet in a report on Monday, March 18th. They issued an “outperform” rating and a $7.00 price objective for the company. One investment analyst has rated the stock with a sell rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, PowerFleet has an average rating of “Moderate Buy” and a consensus target price of $8.43.

Check Out Our Latest Analysis on PWFL

PowerFleet Stock Up 1.7 %

Shares of PowerFleet stock opened at $5.41 on Wednesday. The stock’s 50-day simple moving average is $4.82 and its 200-day simple moving average is $3.59. PowerFleet, Inc. has a 52 week low of $1.64 and a 52 week high of $5.67. The company has a market capitalization of $580.76 million, a price-to-earnings ratio of -17.45 and a beta of 1.75.

PowerFleet (NASDAQ:PWFLGet Free Report) last posted its earnings results 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 analysts’ expectations of $33.23 million. PowerFleet had a negative return on equity of 6.61% and a negative net margin of 3.86%. On average, equities analysts expect that PowerFleet, Inc. will post 0.12 earnings per share for the current year.

PowerFleet Profile

(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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Institutional Ownership by Quarter for PowerFleet (NASDAQ:PWFL)

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