PowerFleet, Inc. (NASDAQ:PWFL) Given Average Recommendation of “Buy” by Analysts

Shares of PowerFleet, Inc. (NASDAQ:PWFL) have received an average rating of “Buy” from the four ratings firms that are presently covering the firm, Marketbeat reports. Four research analysts have rated the stock with a buy recommendation. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $7.25.

PWFL has been the topic of a number of recent research reports. Lake Street Capital reaffirmed a “buy” rating and set a $4.00 price target on shares of PowerFleet in a research report on Thursday, December 28th. Craig Hallum assumed coverage on shares of PowerFleet in a research note on Friday. They issued a “buy” rating and a $9.00 price target on the stock. Finally, TheStreet upgraded shares of PowerFleet from a “d” rating to a “c-” rating in a research report on Thursday.

PowerFleet Stock Performance

PWFL stock traded down $0.14 during trading hours on Friday, reaching $3.63. The stock had a trading volume of 907,507 shares, compared to its average volume of 238,669. The stock has a market capitalization of $135.07 million, a PE ratio of -11.71 and a beta of 1.64. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.71 and a quick ratio of 1.28. The stock has a 50-day simple moving average of $3.17 and a 200 day simple moving average of $2.59. PowerFleet has a fifty-two week low of $1.64 and a fifty-two week high of $4.19.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Captrust Financial Advisors grew its position in shares of PowerFleet by 25.0% during the 2nd quarter. Captrust Financial Advisors now owns 16,015 shares of the company’s stock worth $35,000 after buying an additional 3,200 shares in the last quarter. Bank of America Corp DE raised its stake in shares of PowerFleet by 14,257.9% in the first quarter. Bank of America Corp DE now owns 10,912 shares of the company’s stock worth $37,000 after purchasing an additional 10,836 shares during the last quarter. Engineers Gate Manager LP purchased a new position in shares of PowerFleet in the first quarter worth about $39,000. Millennium Management LLC purchased a new position in PowerFleet during the fourth quarter valued at approximately $56,000. Finally, LPL Financial LLC raised its position in PowerFleet by 81.7% during the second quarter. LPL Financial LLC now owns 18,954 shares of the company’s stock valued at $57,000 after acquiring an additional 8,525 shares in the last quarter. 85.26% of the stock is currently owned by institutional investors.

About PowerFleet

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.