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

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

Several other equities research analysts also recently commented on the stock. 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. Raymond James reiterated an outperform rating and set a $7.00 price target on shares of PowerFleet in a report on Tuesday, April 2nd. TheStreet upgraded PowerFleet from a d rating to a c- rating in a report on Thursday, March 14th. William Blair reaffirmed an outperform rating on shares of PowerFleet in a report on Wednesday, May 1st. Finally, Canaccord Genuity Group increased their price target on PowerFleet from $6.00 to $10.00 and gave the company a buy rating in a research note on Wednesday, March 13th. One analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, PowerFleet presently has a consensus rating of Moderate Buy and an average target price of $8.43.

PowerFleet Trading Up 3.4 %

PowerFleet stock opened at $4.56 on Thursday. The stock has a 50-day moving average price of $4.83 and a two-hundred day moving average price of $3.93. PowerFleet has a 12 month low of $1.64 and a 12 month high of $5.67.

Institutional Investors Weigh In On PowerFleet

A number of hedge funds have recently added to or reduced their stakes in the business. Worth Venture Partners LLC grew its position 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 buying an additional 4,679 shares during the period. SG Americas Securities LLC acquired a new position in shares of PowerFleet during the first quarter valued at about $65,000. Kennedy Capital Management LLC bought a new position in shares of PowerFleet during the 3rd quarter worth about $87,000. Victory Capital Management Inc. bought a new stake in PowerFleet in the 4th quarter valued at about $112,000. Finally, Sierra Summit Advisors LLC acquired a new position in PowerFleet during the 4th quarter worth approximately $121,000. 73.40% of the stock is currently owned by 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.