Zacks Investment Research upgraded shares of PowerFleet (NASDAQ:PWFL) from a sell rating to a hold rating in a research note issued to investors on Saturday morning, Zacks.com reports.

According to Zacks, “PowerFleet Inc. is a provider of subscription-based wireless IoT and M2M solutions for securing, controlling, tracking and managing enterprise assets such as industrial trucks, tractor trailers, containers, cargo and vehicles and truck fleets. Its brand consists of PowerFleet, Pointer and Cellocator. PowerFleet Inc., formerly known as I.D. Systems, is headquartered in Woodcliff Lake, New Jersey. “

Other equities research analysts also recently issued research reports about the stock. Roth Capital started coverage on shares of PowerFleet in a research report on Monday, March 30th. They issued a buy rating and a $8.00 target price for the company. ValuEngine downgraded shares of PowerFleet from a buy rating to a hold rating in a report on Monday, April 27th. B. Riley cut their price target on shares of PowerFleet from $4.75 to $4.00 and set a neutral rating on the stock in a report on Friday, May 15th. Finally, Barrington Research restated a buy rating and set a $12.00 price target on shares of PowerFleet in a report on Wednesday, March 11th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The stock currently has a consensus rating of Buy and an average target price of $8.55.

PWFL stock opened at $4.52 on Friday. PowerFleet has a 12-month low of $2.55 and a 12-month high of $8.50. The company has a quick ratio of 1.21, a current ratio of 1.56 and a debt-to-equity ratio of 0.37. The company has a market cap of $140.53 million, a price-to-earnings ratio of -7.41 and a beta of 1.97. The company has a 50 day moving average of $4.80 and a two-hundred day moving average of $5.65.

PowerFleet (NASDAQ:PWFL) last released its earnings results on Thursday, May 14th. The company reported ($0.03) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.01). PowerFleet had a negative return on equity of 2.39% and a negative net margin of 12.31%. The company had revenue of $30.80 million during the quarter, compared to analysts’ expectations of $30.79 million. On average, research analysts anticipate that PowerFleet will post -0.11 EPS for the current year.

A number of large investors have recently bought and sold shares of PWFL. Wells Fargo & Company MN grew its position in PowerFleet by 894.5% in the 1st quarter. Wells Fargo & Company MN now owns 9,269 shares of the company’s stock worth $33,000 after purchasing an additional 8,337 shares during the last quarter. Van ECK Associates Corp acquired a new stake in PowerFleet in the 4th quarter worth $60,000. Goldman Sachs Group Inc. acquired a new stake in PowerFleet in the 4th quarter worth $77,000. Bank of New York Mellon Corp acquired a new stake in PowerFleet in the 4th quarter worth $83,000. Finally, Victory Capital Management Inc. acquired a new stake in PowerFleet in the 4th quarter worth $133,000. Institutional investors and hedge funds own 52.63% of the company’s stock.

PowerFleet Company Profile

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