PowerFleet, Inc. (NASDAQ:PWFL) Director Michael J. Casey Acquires 20,000 Shares

PowerFleet, Inc. (NASDAQ:PWFLGet Rating) Director Michael J. Casey acquired 20,000 shares of the stock in a transaction that occurred on Monday, November 21st. The shares were bought at an average price of $2.97 per share, with a total value of $59,400.00. Following the completion of the purchase, the director now owns 174,763 shares in the company, valued at $519,046.11. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

PowerFleet Stock Down 4.2 %

NASDAQ:PWFL traded down $0.13 during trading hours on Thursday, hitting $2.99. The company had a trading volume of 16,787 shares, compared to its average volume of 115,955. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.28 and a current ratio of 1.78. The stock has a 50-day moving average price of $2.91 and a 200 day moving average price of $2.72. PowerFleet, Inc. has a 52 week low of $2.06 and a 52 week high of $6.53.

PowerFleet (NASDAQ:PWFLGet Rating) last announced its 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 firm had revenue of $34.29 million for the quarter, compared to analyst estimates of $34.52 million. Equities analysts anticipate that PowerFleet, Inc. will post -0.37 earnings per share for the current year.

Analyst Ratings Changes

A number of research analysts have recently issued reports on PWFL shares. StockNews.com began coverage on shares of PowerFleet in a research note on Monday. They issued a “hold” rating for the company. Barrington Research raised shares of PowerFleet from a “market perform” rating to an “outperform” rating in a research report on Monday, August 8th.

Institutional Investors Weigh In On PowerFleet

Hedge funds have recently made changes to their positions in the company. Worth Venture Partners LLC bought a new position in shares of PowerFleet during the third quarter valued at approximately $40,000. Engineers Gate Manager LP bought a new position in PowerFleet during the first quarter valued at approximately $39,000. Captrust Financial Advisors boosted its holdings in PowerFleet by 25.0% in the second quarter. Captrust Financial Advisors now owns 16,015 shares of the company’s stock worth $35,000 after purchasing an additional 3,200 shares during the last quarter. Connors Investor Services Inc. grew its position in PowerFleet by 9.1% in 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 period. Finally, Precision Wealth Strategies LLC lifted its holdings in PowerFleet by 9.9% in the first quarter. Precision Wealth Strategies LLC now owns 53,870 shares of the company’s stock valued at $160,000 after acquiring an additional 4,856 shares during the period. 67.42% of the stock is currently owned by institutional investors.

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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