Michael J. Casey Acquires 20,000 Shares of PowerFleet, Inc. (NASDAQ:PWFL) Stock

PowerFleet, Inc. (NASDAQ:PWFLGet Rating) Director Michael J. Casey bought 20,000 shares of the stock in a transaction dated Monday, November 21st. The stock was purchased at an average cost of $2.97 per share, for a total transaction of $59,400.00. Following the acquisition, the director now owns 174,763 shares of the company’s stock, valued at $519,046.11. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

PowerFleet Price Performance

PWFL stock traded down $0.13 during midday trading on Thursday, hitting $2.99. 16,787 shares of the company’s stock were exchanged, compared to its average volume of 115,955. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.78 and a quick ratio of 1.28. The firm has a 50 day moving average price of $2.91 and a 200-day moving average price of $2.72. PowerFleet, Inc. has a 12-month low of $2.06 and a 12-month high of $6.53.

PowerFleet (NASDAQ:PWFLGet Rating) last posted its quarterly earnings data on Tuesday, November 8th. The company reported ($0.10) EPS for the quarter, beating the consensus estimate of ($0.11) by $0.01. The firm had revenue of $34.29 million during the quarter, compared to analyst estimates of $34.52 million. PowerFleet had a negative net margin of 8.84% and a negative return on equity of 13.68%. Analysts expect that PowerFleet, Inc. will post -0.37 EPS for the current year.

Hedge Funds Weigh In On PowerFleet

Several hedge funds have recently made changes to their positions in the stock. Penn Capital Management Company LLC purchased a new stake in shares of PowerFleet in the 1st quarter valued at about $715,000. Dimensional Fund Advisors LP raised its holdings in shares of PowerFleet by 23.8% during the 1st quarter. Dimensional Fund Advisors LP now owns 247,548 shares of the company’s stock valued at $735,000 after buying an additional 47,644 shares in the last quarter. Vanguard Group Inc. grew its position in PowerFleet by 2.8% during the first quarter. Vanguard Group Inc. now owns 1,577,760 shares of the company’s stock valued at $4,686,000 after acquiring an additional 43,027 shares during the last quarter. Equitable Trust Co. raised its position in PowerFleet by 22.9% in the 2nd quarter. Equitable Trust Co. now owns 136,353 shares of the company’s stock worth $296,000 after purchasing an additional 25,400 shares during the period. Finally, Oak Family Advisors LLC lifted its stake in PowerFleet by 29.6% during the second quarter. Oak Family Advisors LLC now owns 108,327 shares of the company’s stock worth $235,000 after purchasing an additional 24,715 shares in the last quarter. 67.42% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have issued reports on PWFL shares. Barrington Research upgraded PowerFleet from a “market perform” rating to an “outperform” rating in a research report on Monday, August 8th. StockNews.com initiated coverage on shares of PowerFleet in a report on Monday. They issued a “hold” rating for the company.

PowerFleet Company Profile

(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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