PowerFleet (NASDAQ:PWFL) Lowered to “Sell” at StockNews.com

PowerFleet (NASDAQ:PWFL) was downgraded by StockNews.com from a “hold” rating to a “sell” rating in a note issued to investors on Friday.

A number of other research firms have also recently commented on PWFL. Raymond James restated an “outperform” rating and set a $7.00 target price on shares of PowerFleet in a research note on Tuesday, April 2nd. Canaccord Genuity Group boosted their price target on PowerFleet from $6.00 to $10.00 and gave the stock a “buy” rating in a report on Wednesday, March 13th. William Blair reaffirmed an “outperform” rating on shares of PowerFleet in a report on Wednesday, May 1st. Barrington Research lifted their price objective on shares of PowerFleet from $7.00 to $10.00 and gave the company an “outperform” rating in a research report on Tuesday, April 30th. Finally, Northland Securities began coverage on shares of PowerFleet in a research report on Monday, March 18th. They set an “outperform” rating and a $7.00 target price for the company. One investment analyst has rated the stock with a sell rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, PowerFleet presently has a consensus rating of “Moderate Buy” and an average price target of $8.43.

PowerFleet Price Performance

PowerFleet has a twelve month low of $1.64 and a twelve month high of $5.67. The firm’s 50 day simple moving average is $4.85 and its 200 day simple moving average is $3.97.

Hedge Funds Weigh In On PowerFleet

Several hedge funds have recently bought and sold shares of the business. Perritt Capital Management Inc. boosted 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 valued at $1,040,000 after purchasing an additional 13,700 shares during the period. Kennedy Capital Management LLC bought a new position in shares of PowerFleet during the 3rd quarter worth $87,000. Millrace Asset Group Inc. purchased a new position in shares of PowerFleet during the fourth quarter valued at $754,000. Equitable Trust Co. raised 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 acquiring an additional 70,198 shares in the last quarter. Finally, Victory Capital Management Inc. purchased a new stake in PowerFleet in the fourth quarter worth about $112,000. 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.