A number of other brokerages have also weighed in on PWFL. Lake Street Capital lowered their price objective on shares of PowerFleet from $9.00 to $7.00 in a report on Thursday, March 10th. Barrington Research lowered shares of PowerFleet from an “outperform” rating to a “market perform” rating in a report on Tuesday, May 10th. Canaccord Genuity Group lowered their price target on shares of PowerFleet from $9.00 to $6.00 and set a “buy” rating for the company in a report on Wednesday, May 11th. Finally, Canaccord Genuity Group lowered their price target on shares of PowerFleet from $12.00 to $9.00 and set a “buy” rating for the company in a report on Thursday, March 10th. Two research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, PowerFleet currently has a consensus rating of “Moderate Buy” and an average price target of $7.33.
Shares of PWFL opened at $2.39 on Wednesday. The firm has a market cap of $86.34 million, a price-to-earnings ratio of -4.27 and a beta of 1.73. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.45 and a current ratio of 1.91. PowerFleet has a fifty-two week low of $2.16 and a fifty-two week high of $7.57. The firm has a 50 day moving average price of $2.50 and a 200-day moving average price of $3.43.
Large investors have recently added to or reduced their stakes in the company. Lynrock Lake LP grew its position in PowerFleet by 83.3% during the 4th quarter. Lynrock Lake LP now owns 3,580,966 shares of the company’s stock valued at $16,974,000 after purchasing an additional 1,627,745 shares during the last quarter. Private Capital Management LLC grew its position in PowerFleet by 57.3% during the 4th quarter. Private Capital Management LLC now owns 2,087,398 shares of the company’s stock valued at $9,894,000 after purchasing an additional 760,602 shares during the last quarter. Penn Capital Management Company LLC purchased a new stake in PowerFleet during the 1st quarter valued at about $715,000. Royce & Associates LP grew its position in PowerFleet by 18.2% during the 4th quarter. Royce & Associates LP now owns 1,177,534 shares of the company’s stock valued at $5,582,000 after purchasing an additional 181,134 shares during the last quarter. Finally, Potomac Capital Management Inc. purchased a new stake in PowerFleet during the 4th quarter valued at about $806,000. 68.25% of the stock is currently owned by hedge funds and other institutional investors.
About PowerFleet (Get Rating)
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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