PowerFleet, Inc. (NASDAQ:PWFL – Get Rating) saw a large drop in short interest in the month of May. As of May 31st, there was short interest totalling 135,700 shares, a drop of 24.3% from the May 15th total of 179,300 shares. Based on an average trading volume of 86,400 shares, the short-interest ratio is currently 1.6 days. Currently, 0.4% of the shares of the company are short sold.
Analyst Upgrades and Downgrades
Separately, StockNews.com upgraded shares of PowerFleet from a “hold” rating to a “buy” rating in a research note on Thursday, May 11th.
Institutional Inflows and Outflows
Several large investors have recently bought and sold shares of PWFL. Private Capital Management LLC boosted its holdings in shares of PowerFleet by 50.5% during the first quarter. Private Capital Management LLC now owns 4,349,003 shares of the company’s stock worth $14,917,000 after acquiring an additional 1,459,830 shares during the period. Cannell Capital LLC grew its holdings in PowerFleet by 86.2% in the 4th quarter. Cannell Capital LLC now owns 2,106,312 shares of the company’s stock valued at $5,666,000 after buying an additional 975,236 shares in the last quarter. North Run Capital LP increased its position in PowerFleet by 13.9% during the 4th quarter. North Run Capital LP now owns 2,694,646 shares of the company’s stock worth $7,249,000 after buying an additional 328,024 shares during the period. ArrowMark Colorado Holdings LLC lifted its holdings in shares of PowerFleet by 21.4% during the first quarter. ArrowMark Colorado Holdings LLC now owns 1,604,108 shares of the company’s stock worth $5,502,000 after buying an additional 283,182 shares in the last quarter. Finally, Penn Capital Management Company LLC acquired a new position in shares of PowerFleet in the first quarter valued at about $715,000. 67.39% of the stock is owned by institutional investors.
PowerFleet Price Performance
Shares of NASDAQ PWFL opened at $3.36 on Thursday. The company has a current ratio of 1.91, a quick ratio of 1.42 and a debt-to-equity ratio of 0.12. PowerFleet has a 12 month low of $2.06 and a 12 month high of $3.97. The stock has a 50 day moving average of $2.98 and a 200-day moving average of $2.82.
PowerFleet (NASDAQ:PWFL – Get Rating) last released its quarterly earnings data on Tuesday, May 9th. The company reported $0.08 EPS for the quarter, beating the consensus estimate of ($0.06) by $0.14. The firm had revenue of $32.84 million for the quarter, compared to the consensus estimate of $33.40 million. PowerFleet had a net margin of 0.51% and a return on equity of 0.81%. On average, equities analysts expect that PowerFleet will post -0.11 earnings per share for the current fiscal year.
PowerFleet Company Profile
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.