PowerFleet (NASDAQ:PWFL) Raised to Hold at StockNews.com

StockNews.com upgraded shares of PowerFleet (NASDAQ:PWFL) from a sell rating to a hold rating in a research note released on Thursday.

PWFL has been the topic of several other reports. Northland Securities assumed coverage on shares of PowerFleet in a report on Monday, March 18th. They set an outperform rating and a $7.00 target price on the stock. Canaccord Genuity Group increased their price objective on shares of PowerFleet from $6.00 to $10.00 and gave the company a buy rating in a research note on Wednesday, March 13th. Barrington Research upped their target price on PowerFleet from $7.00 to $10.00 and gave the stock an outperform rating in a report on Tuesday, April 30th. Raymond James reaffirmed an outperform rating and set a $7.00 target price on shares of PowerFleet in a research report on Tuesday, April 2nd. Finally, TheStreet raised PowerFleet from a d rating to a c- rating in a research report on Thursday, March 14th. One investment analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, PowerFleet has an average rating of Moderate Buy and a consensus price target of $8.43.

PowerFleet Stock Up 0.2 %

Shares of NASDAQ PWFL opened at $4.57 on Thursday. PowerFleet has a twelve month low of $1.64 and a twelve month high of $5.67. The firm has a market cap of $490.59 million, a PE ratio of -14.74 and a beta of 1.75. The business has a fifty day simple moving average of $4.85 and a two-hundred day simple moving average of $3.96.

Institutional Investors Weigh In On PowerFleet

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PWFL. Perritt Capital Management Inc. raised its holdings in shares of PowerFleet by 4.7% in the fourth quarter. Perritt Capital Management Inc. now owns 304,188 shares of the company’s stock worth $1,040,000 after buying an additional 13,700 shares during the last quarter. Kennedy Capital Management LLC purchased a new position in shares of PowerFleet in the third quarter worth about $87,000. Millrace Asset Group Inc. purchased a new stake in shares of PowerFleet in the fourth quarter valued at approximately $754,000. Equitable Trust Co. increased its holdings in shares of PowerFleet by 35.1% in the fourth quarter. Equitable Trust Co. now owns 269,992 shares of the company’s stock valued at $923,000 after purchasing an additional 70,198 shares during the last quarter. Finally, AWM Investment Company Inc. raised its stake in PowerFleet by 5.2% during 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 during the period. 73.40% of the stock is currently 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.