Private Capital Management LLC recently announced the acquisition of new stake in PowerFleet Inc. (NASDAQ:PWFL). The institutional investor has increased its shareholding in the Technology company by 1.78% to 2.64 million shares with purchase of 46236.0 shares. This fresh investment now brings its stake to 7.30% valued currently at $7.1 million. In addition, Columbia Management Investment Ad raised its holdings by 76499.0 to 1.67 million shares. And AWM Investment Co., Inc. has lifted its position by 0.16% or 2510.0 shares – to 1.58 million shares.
With over 0.16 million PowerFleet Inc. (PWFL) shares trading Friday and a closing price of $2.59 on the day, the dollar volume was approximately $0.41 million. The shares have shown a positive half year performance of 1.97% and its price on 01/13/23 lost nearly -4.07%. Currently, there are 35.41M common shares owned by the public and among those 33.31M shares have been available to trade.
An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 4 analysts who have offered their price forecasts for PWFL have a consensus price objective of $6.75. The analysts have set the share’s price value over the next 12 months at a high of $8.00 and a low of $5.00. The average price target is 61.63% above its recent price level and an upside to the estimated low will see the stock gain 48.2% over that period. But an upside of 67.62% will see the stock hit the forecast high price target while median target price for the stock is $7.00.
Insiders at the company have transacted a total of 6 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 6 of these insider trades were purchases, accounting for 119,584 shares. Insider sales of the common stock occurred on 0 occasions, with total insider shares sold totaling 0 shares.
The top 3 mutual fund holders in PowerFleet Inc. are Fidelity Strategic Advisers Small, Columbia Small Cap Value Fund I, and Vanguard Total Stock Market Index. Fidelity Strategic Advisers Small owns 1.31 million shares of the company’s stock, all valued at over $3.52 million. Columbia Small Cap Value Fund I bought 3100.0 shares to see its total holdings expand to 1.03 million shares valued at over $2.76 million and representing 2.84% of the shares outstanding. Vanguard Total Stock Market Index now owns shares totaling to 2.63% of the shares outstanding.
However, the script later moved the day high at 2.7600, down -4.07%. The company’s stock has a 5-day price change of -2.26% and -6.67% over the past three months. PWFL shares are trading -3.72% year to date (YTD), with the 12-month market performance down to -45.47% lower. It has a 12-month low price of $2.06 and touched a high of $4.79 over the same period. PWFL has an average intraday trading volume of 71.71K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 0.80%, -1.47%, and -4.95% respectively.
Institutional ownership of PowerFleet Inc. (NASDAQ: PWFL) shares accounts for 70.00% of the company’s 35.41M shares outstanding. Mutual fund holders own 51.07%, while other institutional holders and individual stakeholders account for 9.51% and 22.53% respectively.
It has a market capitalization of $97.69M and a beta (3y monthly) value of 1.44. The earnings-per-share (ttm) stands at -$0.48. Price movements for the stock have been influenced by the stock’s volatility, which stands at 6.66% over the week and 7.93% over the month.
Analysts forecast that PowerFleet Inc. (PWFL) will achieve an EPS of -$0.09 for the current quarter, -$0.07 for the next quarter and -$0.14 for 2023. The lowest estimate earnings-per-share for the quarter is -$0.11 while analysts give the company a high EPS estimate of -$0.08. Comparatively, EPS for the current quarter was -$0.13 a year ago. Earnings per share for the fiscal year are expected to decrease by -14.10%, and 85.00% over the next financial year. EPS should grow at an annualized rate of 30.00% over the next five years, compared to -1.30% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 4 brokerage firm advisors rate PowerFleet Inc. (PWFL) as a “Strong Buy” at a consensus score of 1.50. Specifically, 4 Wall Street analysts polled rate the stock as a buy, while 0 of the 4 advise that investors “hold,” and 0 rated it as a “Sell.”
B. Riley FBR coverage for the PowerFleet Inc. (PWFL) stock in a research note released on May 04, 2020 offered a Neutral rating with a price target of $4.75.