Brokerages Set PowerFleet, Inc. (NASDAQ:PWFL) Target Price at $8.43

Shares of PowerFleet, Inc. (NASDAQ:PWFL) have earned a consensus recommendation of “Buy” from the eight ratings firms that are currently covering the stock, Marketbeat.com reports. Eight analysts have rated the stock with a buy rating. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $8.43.

PWFL has been the topic of a number of analyst reports. Barrington Research upped their price objective on PowerFleet from $7.00 to $10.00 and gave the stock an “outperform” rating in a research note on Tuesday, April 30th. Craig Hallum started coverage on PowerFleet in a research note on Friday, March 15th. They issued a “buy” rating and a $9.00 price target on the stock. Raymond James restated an “outperform” rating and issued a $7.00 price target on shares of PowerFleet in a research note on Tuesday, April 2nd. Lake Street Capital increased 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, Northland Securities started coverage on PowerFleet in a research note on Monday, March 18th. They issued an “outperform” rating and a $7.00 price target on the stock.

Institutional Trading of PowerFleet

Large investors have recently modified their holdings of the stock. Perritt Capital Management Inc. grew its holdings in shares of PowerFleet by 4.7% during the 4th quarter. Perritt Capital Management Inc. now owns 304,188 shares of the company’s stock worth $1,040,000 after purchasing an additional 13,700 shares in the last quarter. Kennedy Capital Management LLC bought a new position in PowerFleet in the third quarter valued at about $87,000. Millrace Asset Group Inc. bought a new position in PowerFleet in the fourth quarter valued at about $754,000. Equitable Trust Co. raised its position in 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 position in shares of 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 acquiring an additional 147,408 shares during the last quarter. 73.40% of the stock is owned by institutional investors and hedge funds.

PowerFleet Stock Up 3.4 %

Shares of PowerFleet stock opened at $4.56 on Friday. PowerFleet has a 12-month low of $1.64 and a 12-month high of $5.67. The stock has a market cap of $489.52 million, a P/E ratio of -14.71 and a beta of 1.75. The business’s 50 day moving average is $4.83 and its 200-day moving average is $3.93.

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.