PowerFleet (NASDAQ:PWFL) Downgraded by StockNews.com to “Sell”

StockNews.com cut shares of PowerFleet (NASDAQ:PWFL) from a hold rating to a sell rating in a report released on Friday morning.

A number of other brokerages also recently issued reports on PWFL. Raymond James restated an outperform rating and set a $7.00 price target on shares of PowerFleet in a report on Tuesday, April 2nd. Lake Street Capital boosted their price objective 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. Northland Securities started coverage on shares of PowerFleet in a research note on Monday, March 18th. They set an outperform rating and a $7.00 target price on the stock. Craig Hallum began coverage on shares of PowerFleet in a research note on Friday, March 15th. They issued a buy rating and a $9.00 price target for the company. Finally, William Blair reaffirmed an outperform rating on shares of PowerFleet in a research report on Wednesday, May 1st. One research analyst has rated the stock with a sell rating and eight have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of Moderate Buy and a consensus target price of $8.43.

PowerFleet Stock Up 0.2 %

NASDAQ:PWFL opened at $4.57 on Friday. The firm has a market capitalization of $490.59 million, a P/E ratio of -14.74 and a beta of 1.69. The company has a fifty day moving average of $4.86 and a 200 day moving average of $3.99. PowerFleet has a 52 week low of $1.64 and a 52 week high of $5.67.

Institutional Investors Weigh In On PowerFleet

A number of institutional investors have recently made changes to their positions in PWFL. Private Capital Management LLC lifted its position in PowerFleet by 10.5% in the 4th quarter. Private Capital Management LLC now owns 5,778,189 shares of the company’s stock valued at $19,761,000 after acquiring an additional 549,495 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of PowerFleet by 68.0% during the first quarter. Vanguard Group Inc. now owns 2,610,121 shares of the company’s stock valued at $13,938,000 after buying an additional 1,056,684 shares during the last quarter. AMH Equity Ltd bought a new stake in PowerFleet in the 1st quarter worth about $5,874,000. Perritt Capital Management Inc. raised its position in PowerFleet by 1.2% in the 1st quarter. Perritt Capital Management Inc. now owns 307,922 shares of the company’s stock worth $1,644,000 after buying an additional 3,734 shares during the last quarter. Finally, Equitable Trust Co. raised its position in PowerFleet by 35.1% in the 4th quarter. Equitable Trust Co. now owns 269,992 shares of the company’s stock worth $923,000 after buying an additional 70,198 shares during the last quarter. Hedge funds and other institutional investors own 73.40% of the company’s stock.

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.