PowerFleet (NASDAQ:PWFL) Upgraded to Hold by StockNews.com

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

A number of other research analysts also recently issued reports on the company. Raymond James restated an outperform rating and set a $7.00 price target on shares of PowerFleet in a research note on Tuesday, April 2nd. TheStreet raised PowerFleet from a d rating to a c- rating in a research note on Thursday, March 14th. Barrington Research lifted their target price on shares of PowerFleet from $7.00 to $10.00 and gave the stock an outperform rating in a research report on Tuesday, April 30th. Craig Hallum assumed coverage on PowerFleet in a report on Friday, March 15th. They issued a buy rating and a $9.00 price target for the company. Finally, Lake Street Capital raised their price target on shares of PowerFleet from $4.00 to $7.00 and gave the stock a buy rating in a research note on Wednesday, March 13th. One research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and a consensus target price of $8.43.

PowerFleet Stock Performance

PWFL stock opened at $4.56 on Thursday. PowerFleet has a fifty-two week low of $1.64 and a fifty-two week high of $5.67. The business has a 50 day moving average price of $4.83 and a 200 day moving average price of $3.93.

Hedge Funds Weigh In On PowerFleet

Several hedge funds and other institutional investors have recently modified their holdings of the company. AWM Investment Company Inc. boosted its holdings in shares of PowerFleet by 5.2% in the third quarter. AWM Investment Company Inc. now owns 2,974,946 shares of the company’s stock valued at $6,158,000 after acquiring an additional 147,408 shares in the last quarter. Potomac Capital Management Inc. raised its stake in shares of PowerFleet by 36.7% in the 3rd quarter. Potomac Capital Management Inc. now owns 216,571 shares of the company’s stock worth $448,000 after buying an additional 58,088 shares in the last quarter. Perritt Capital Management Inc. lifted its holdings in PowerFleet by 22.5% in the 3rd quarter. Perritt Capital Management Inc. now owns 290,488 shares of the company’s stock valued at $601,000 after acquiring an additional 53,300 shares during the last quarter. Kennedy Capital Management LLC bought a new stake in shares of PowerFleet in the 3rd quarter worth approximately $87,000. Finally, Worth Venture Partners LLC raised its holdings in shares of PowerFleet by 17.7% in the 3rd quarter. Worth Venture Partners LLC now owns 31,111 shares of the company’s stock worth $64,000 after purchasing an additional 4,679 shares in the last quarter. Institutional investors and hedge funds own 73.40% of the company’s stock.

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.