PowerFleet, Inc. (NASDAQ:PWFL) Short Interest Update

PowerFleet, Inc. (NASDAQ:PWFLGet Free Report) saw a significant increase in short interest in the month of February. As of February 15th, there was short interest totalling 4,880,000 shares, an increase of 23.9% from the January 31st total of 3,940,000 shares. Currently, 14.7% of the shares of the stock are short sold. Based on an average trading volume of 139,500 shares, the days-to-cover ratio is presently 35.0 days.

Analyst Upgrades and Downgrades

PWFL has been the subject of a number of research analyst reports. Barrington Research restated an “outperform” rating and issued a $7.00 price target on shares of PowerFleet in a research report on Wednesday, November 15th. Lake Street Capital reiterated a “buy” rating and set a $4.00 price objective on shares of PowerFleet in a research report on Thursday, December 28th.

Check Out Our Latest Research Report on PWFL

PowerFleet Trading Down 0.3 %

Shares of NASDAQ PWFL traded down $0.01 during midday trading on Monday, hitting $3.17. The stock had a trading volume of 138,916 shares, compared to its average volume of 136,398. The company has a market capitalization of $117.96 million, a price-to-earnings ratio of -12.12 and a beta of 1.64. PowerFleet has a 1-year low of $1.64 and a 1-year high of $3.49. The company has a quick ratio of 1.28, a current ratio of 1.71 and a debt-to-equity ratio of 0.12. The company has a fifty day moving average price of $3.15 and a 200 day moving average price of $2.51.

Hedge Funds Weigh In On PowerFleet

Several hedge funds and other institutional investors have recently bought and sold shares of PWFL. Private Capital Management LLC increased its holdings in shares of PowerFleet by 3.5% in the 3rd quarter. Private Capital Management LLC now owns 5,228,694 shares of the company’s stock valued at $10,823,000 after acquiring an additional 175,014 shares during the last quarter. Lynrock Lake LP increased its holdings in shares of PowerFleet by 0.7% in the 4th quarter. Lynrock Lake LP now owns 3,604,466 shares of the company’s stock valued at $9,696,000 after acquiring an additional 23,500 shares during the last quarter. AWM Investment Company Inc. increased its holdings in shares of PowerFleet by 5.2% in the 3rd quarter. AWM Investment Company Inc. now owns 2,974,946 shares of the company’s stock valued at $6,158,000 after acquiring an additional 147,408 shares during the last quarter. North Run Capital LP increased its holdings in shares of PowerFleet by 13.9% in the 4th quarter. North Run Capital LP now owns 2,694,646 shares of the company’s stock valued at $7,249,000 after acquiring an additional 328,024 shares during the last quarter. Finally, ArrowMark Colorado Holdings LLC increased its holdings in shares of PowerFleet by 21.4% in the 1st quarter. ArrowMark Colorado Holdings LLC now owns 1,604,108 shares of the company’s stock valued at $5,502,000 after acquiring an additional 283,182 shares during the last quarter. 85.26% of the stock is owned by institutional investors and hedge funds.

About PowerFleet

(Get Free Report)

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.

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