PowerFleet (NASDAQ:PWFL) Price Target Raised to $10.00 at Barrington Research

PowerFleet (NASDAQ:PWFL) had its price objective boosted by Barrington Research from $7.00 to $10.00 in a note issued to investors on Tuesday, Benzinga reports. The firm presently has an “outperform” rating on the stock. Barrington Research’s price target suggests a potential upside of 108.77% from the stock’s previous close.

PWFL has been the subject of a number of other research reports. Raymond James reiterated an “outperform” rating and issued a $7.00 price objective on shares of PowerFleet in a report on Tuesday, April 2nd. William Blair began coverage on PowerFleet in a report on Wednesday, April 3rd. They set an “outperform” rating for the company. Canaccord Genuity Group lifted their price objective on PowerFleet from $6.00 to $10.00 and gave the stock a “buy” rating in a report on Wednesday, March 13th. Lake Street Capital boosted their price target on PowerFleet from $4.00 to $7.00 and gave the company a “buy” rating in a research note on Wednesday, March 13th. Finally, TheStreet upgraded PowerFleet from a “d” rating to a “c-” rating in a research note on Thursday, March 14th. One equities research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $8.43.

PowerFleet Trading Up 2.8 %

PWFL stock traded up $0.13 during midday trading on Tuesday, hitting $4.79. The company had a trading volume of 459,182 shares, compared to its average volume of 571,826. The company has a current ratio of 1.71, a quick ratio of 1.28 and a debt-to-equity ratio of 0.12. PowerFleet has a 52 week low of $1.64 and a 52 week high of $5.67. The stock’s 50 day moving average price is $3.98 and its 200 day moving average price is $3.10. The stock has a market cap of $516.94 million, a price-to-earnings ratio of -15.39 and a beta of 1.72.

PowerFleet (NASDAQ:PWFL) last announced its earnings results on Tuesday, March 12th. The company reported ($0.13) EPS for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.06). The business had revenue of $34.50 million for the quarter, compared to the consensus estimate of $33.23 million. PowerFleet had a negative net margin of 3.86% and a negative return on equity of 6.08%. As a group, equities research analysts expect that PowerFleet will post -0.17 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Worth Venture Partners LLC raised its holdings in shares of PowerFleet by 17.7% during the 3rd quarter. Worth Venture Partners LLC now owns 31,111 shares of the company’s stock worth $64,000 after acquiring an additional 4,679 shares in the last quarter. Kennedy Capital Management LLC bought a new position in shares of PowerFleet during the 3rd quarter worth $87,000. Victory Capital Management Inc. bought a new position in shares of PowerFleet during the 4th quarter worth $112,000. Sierra Summit Advisors LLC purchased a new stake in shares of PowerFleet during the 4th quarter worth $121,000. Finally, Potomac Capital Management Inc. lifted its stake in shares of PowerFleet by 36.7% during the 3rd quarter. Potomac Capital Management Inc. now owns 216,571 shares of the company’s stock worth $448,000 after purchasing an additional 58,088 shares during the last quarter. 73.40% of the stock is owned by hedge funds and other 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.