StockNews.com began coverage on shares of PowerFleet (NASDAQ:PWFL – Get Rating) in a research report sent to investors on Wednesday morning. The firm issued a hold rating on the stock.

PowerFleet Stock Down 2.1 %

Shares of NASDAQ:PWFL opened at $2.35 on Wednesday. The company has a market capitalization of $85.00 million, a price-to-earnings ratio of -4.80 and a beta of 1.46. The company has a 50 day moving average of $2.81 and a two-hundred day moving average of $2.75. PowerFleet has a 52-week low of $2.06 and a 52-week high of $6.53. The company has a quick ratio of 1.28, a current ratio of 1.78 and a debt-to-equity ratio of 0.14.

PowerFleet (NASDAQ:PWFL – Get Rating) last released its quarterly earnings results on Tuesday, November 8th. The company reported ($0.10) earnings per share for the quarter, beating analysts' consensus estimates of ($0.11) by $0.01. PowerFleet had a negative net margin of 8.84% and a negative return on equity of 13.68%. The business had revenue of $34.29 million during the quarter, compared to analyst estimates of $34.52 million. As a group, analysts forecast that PowerFleet will post -0.37 earnings per share for the current fiscal year.

Insider Buying and Selling

Hedge Funds Weigh In On PowerFleet

Hedge funds have recently modified their holdings of the stock. Captrust Financial Advisors raised its stake in shares of PowerFleet by 25.0% during the 2nd quarter. Captrust Financial Advisors now owns 16,015 shares of the company's stock worth $35,000 after purchasing an additional 3,200 shares in the last quarter. Engineers Gate Manager LP bought a new position in PowerFleet during the first quarter valued at approximately $39,000. Worth Venture Partners LLC acquired a new stake in PowerFleet in the third quarter valued at approximately $40,000. Connors Investor Services Inc. increased its stake in shares of PowerFleet by 9.1% during the 2nd quarter. Connors Investor Services Inc. now owns 41,000 shares of the company's stock worth $89,000 after purchasing an additional 3,416 shares during the last quarter. Finally, Jane Street Group LLC increased its stake in shares of PowerFleet by 26.2% during the 2nd quarter. Jane Street Group LLC now owns 73,207 shares of the company's stock worth $159,000 after purchasing an additional 15,198 shares during the last quarter. 67.42% of the stock is owned by institutional investors and hedge funds.

About PowerFleet

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PowerFleet, Inc provides wireless Internet-of-Things 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.

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