PowerFleet (NASDAQ:PWFL) Sees Strong Trading Volume

PowerFleet, Inc. (NASDAQ:PWFL) shares saw unusually-strong trading volume on Monday . Approximately 1,314,085 shares traded hands during mid-day trading, an increase of 123% from the previous session’s volume of 590,373 shares.The stock last traded at $5.23 and had previously closed at $4.99.

Analysts Set New Price Targets

Several research firms recently weighed in on PWFL. Northland Securities assumed coverage on PowerFleet in a research note on Monday, March 18th. They set an “outperform” rating and a $7.00 target price for the company. Lake Street Capital increased their target price on shares of PowerFleet from $4.00 to $7.00 and gave the company a “buy” rating in a research report on Wednesday, March 13th. Barrington Research boosted their price target on shares of PowerFleet from $7.00 to $10.00 and gave the company an “outperform” rating in a research report on Tuesday, April 30th. William Blair reaffirmed an “outperform” rating on shares of PowerFleet in a report on Wednesday, May 1st. Finally, Craig Hallum started coverage on PowerFleet in a research report on Friday, March 15th. They set a “buy” rating and a $9.00 target price on the stock. One equities research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $8.43.

PowerFleet Trading Down 3.1 %

The business has a 50 day simple moving average of $4.22 and a two-hundred day simple moving average of $3.23. The company has a current ratio of 1.71, a quick ratio of 1.28 and a debt-to-equity ratio of 0.12. The company has a market cap of $535.28 million, a PE ratio of -16.00 and a beta of 1.75.

PowerFleet (NASDAQ:PWFL) last announced its quarterly earnings data on Tuesday, March 12th. The company reported ($0.13) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.07) by ($0.06). PowerFleet had a negative net margin of 3.86% and a negative return on equity of 6.08%. The company had revenue of $34.50 million for the quarter, compared to analysts’ expectations of $33.23 million. On average, analysts forecast that PowerFleet, Inc. will post 0.12 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in PWFL. SG Americas Securities LLC purchased a new stake in shares of PowerFleet during the first quarter worth about $65,000. Worth Venture Partners LLC increased its stake in PowerFleet by 17.7% during the third quarter. Worth Venture Partners LLC now owns 31,111 shares of the company’s stock valued at $64,000 after purchasing an additional 4,679 shares during the last quarter. Victory Capital Management Inc. acquired a new stake in PowerFleet during the fourth quarter worth about $112,000. Sierra Summit Advisors LLC acquired a new stake in shares of PowerFleet during the 4th quarter worth approximately $121,000. Finally, Kennedy Capital Management LLC bought a new stake in shares of PowerFleet in the 3rd quarter worth approximately $87,000. 73.40% of the stock is owned by hedge funds and other institutional investors.

PowerFleet Company Profile

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.