PowerFleet (NASDAQ:PWFL) Sees Unusually-High Trading Volume

PowerFleet, Inc. (NASDAQ:PWFL) shares saw an uptick in trading volume on Monday . 1,314,085 shares changed hands during 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.

Wall Street Analyst Weigh In

Several research firms have recently commented on PWFL. Northland Securities began coverage on PowerFleet in a report 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 PowerFleet from $4.00 to $7.00 and gave the company a “buy” rating in a report on Wednesday, March 13th. William Blair reiterated an “outperform” rating on shares of PowerFleet in a report on Wednesday, May 1st. Canaccord Genuity Group raised their price target on PowerFleet from $6.00 to $10.00 and gave the company a “buy” rating in a research report on Wednesday, March 13th. Finally, Barrington Research raised their price target on PowerFleet from $7.00 to $10.00 and gave the company an “outperform” rating in a research report on Tuesday, April 30th. One equities research analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, PowerFleet presently has an average rating of “Moderate Buy” and a consensus target price of $8.43.

PowerFleet Stock Up 4.4 %

The firm has a market cap of $562.26 million, a price-to-earnings ratio of -16.81 and a beta of 1.75. 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 moving average of $4.18 and a 200-day moving average of $3.21.

PowerFleet (NASDAQ:PWFL) last released its earnings results on Tuesday, March 12th. The company reported ($0.13) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 business had revenue of $34.50 million during the quarter, compared to the consensus estimate of $33.23 million. Sell-side analysts predict that PowerFleet, Inc. will post 0.12 EPS for the current fiscal year.

Institutional Investors Weigh In On PowerFleet

Institutional investors have recently modified their holdings of the company. AWM Investment Company Inc. increased its stake in shares of PowerFleet by 5.2% in the third quarter. AWM Investment Company Inc. now owns 2,974,946 shares of the company’s stock worth $6,158,000 after purchasing an additional 147,408 shares in the last quarter. Potomac Capital Management Inc. raised its holdings in PowerFleet by 36.7% during the 3rd 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 holdings in PowerFleet by 22.5% during the 3rd 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 bought a new stake in PowerFleet during the 3rd quarter valued at $87,000. Finally, Worth Venture Partners LLC increased its position in PowerFleet by 17.7% during the 3rd 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 period. 73.40% of the stock is 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.