PowerFleet (NASDAQ:PWFL) Receives Outperform Rating from Raymond James

Raymond James reiterated their outperform rating on shares of PowerFleet (NASDAQ:PWFLFree Report) in a research report report published on Tuesday morning, MarketBeat reports. They currently have a $7.00 price objective on the stock.

Several other research firms have also weighed in on PWFL. Northland Securities began 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. TheStreet upgraded shares of PowerFleet from a d rating to a c- rating in a report on Thursday, March 14th. Lake Street Capital boosted their price objective on shares of PowerFleet from $4.00 to $7.00 and gave the stock a buy rating in a report on Wednesday, March 13th. Craig Hallum began coverage on shares of PowerFleet in a report on Friday, March 15th. They issued a buy rating and a $9.00 price objective on the stock. Finally, Canaccord Genuity Group boosted their price objective on shares of PowerFleet from $6.00 to $10.00 and gave the stock a buy rating in a report on Wednesday, March 13th. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of Moderate Buy and an average target price of $8.00.

View Our Latest Research Report on PWFL

PowerFleet Stock Performance

NASDAQ:PWFL opened at $5.12 on Tuesday. 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 firm has a market capitalization of $190.52 million, a price-to-earnings ratio of -16.52 and a beta of 1.72. The firm’s fifty day simple moving average is $3.49 and its 200 day simple moving average is $2.78. PowerFleet has a twelve month low of $1.64 and a twelve month high of $5.67.

Institutional Investors Weigh In On PowerFleet

Hedge funds and other institutional investors have recently modified their holdings of the stock. Private Capital Management LLC grew its position in shares of PowerFleet by 50.5% during the 1st quarter. Private Capital Management LLC now owns 4,349,003 shares of the company’s stock valued at $14,917,000 after buying an additional 1,459,830 shares during the last quarter. North Run Capital LP grew its position in shares of PowerFleet by 13.9% during the 4th quarter. North Run Capital LP now owns 2,694,646 shares of the company’s stock valued at $7,249,000 after buying an additional 328,024 shares during the last quarter. ArrowMark Colorado Holdings LLC grew its position in shares of PowerFleet by 21.4% during the 1st quarter. ArrowMark Colorado Holdings LLC now owns 1,604,108 shares of the company’s stock valued at $5,502,000 after buying an additional 283,182 shares during the last quarter. Millrace Asset Group Inc. bought a new stake in shares of PowerFleet during the 4th quarter valued at about $754,000. Finally, Penn Capital Management Company LLC bought a new stake in shares of PowerFleet during the 1st quarter valued at about $715,000. Institutional investors own 73.40% of the company’s stock.

About PowerFleet

(Get Free Report)

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.

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Analyst Recommendations for PowerFleet (NASDAQ:PWFL)

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