In last trading session, PowerFleet Inc (NASDAQ:PWFL) saw 0.37 million shares changing hands with its beta currently measuring 1.52. Company’s recent per share price level of $2.35 trading at $0.05 or 2.17% at ring of the bell on the day assigns it a market valuation of $87.44M. That closing price of PWFL’s stock is at a discount of -48.51% from its 52-week high price of $3.49 and is indicating a premium of 30.21% from its 52-week low price of $1.64. Taking a look at company’s average trading volume for last 10-days demonstrates a volume of 0.22 million shares which gives us an average trading volume of 303.23K if we extend that period to 3-months.
For PowerFleet Inc (PWFL), analysts’ consensus is at an average recommendation of a Buy while assigning it a mean rating of 1.00. Splitting up the data highlights that, out of 4 analysts covering the stock, 0 rated the stock as a Sell while 0 recommended an Overweight rating for the stock. 0 suggested the stock as a Hold whereas 4 see the stock as a Buy. 0 analyst(s) advised it as an Underweight. The company is expected to be making an EPS of -$0.08 in the current quarter.
PowerFleet Inc (NASDAQ:PWFL) trade information
Upright in the green during last session for gaining 2.17%, in the last five days PWFL remained trading in the green while hitting it’s week-highest on Friday, 11/17/23 when the stock touched $2.35 price level, adding 4.08% to its value on the day. PowerFleet Inc’s shares saw a change of -12.64% in year-to-date performance and have moved 13.53% in past 5-day. PowerFleet Inc (NASDAQ:PWFL) showed a performance of 15.76% in past 30-days. Number of shares sold short was 1.43 million shares which calculate 2.23 days to cover the short interests.
Wall Street analysts have assigned a consensus price target of $6.50 to the stock, which implies a rise of 63.85% to its current value. Analysts have been projecting $4.00 as a low price target for the stock while placing it at a high target of $9.00. It follows that stock’s current price would drop -282.98% in reaching the projected high whereas dropping to the targeted low would mean a loss of -70.21% for stock’s current value.
PowerFleet Inc (PWFL) estimates and forecasts
Statistics highlight that PowerFleet Inc is scoring comparatively lower than the scores of other players of the relevant industry. The company lost -20.07% of value to its shares in past 6 months, showing an annual growth rate of -200.00% while that of industry is -12.40. Apart from that, the company came lowering its revenue forecast for fiscal year 2023. This year revenue growth is estimated to fall -1.30% from the last financial year’s standing.
3 industry analysts have given their estimates about the company’s current quarter revenue by setting an average figure of $34.34 million for the same. And 3 analysts are in estimates of company making revenue of $35.16 million in the next quarter that will end on Mar 2024. Company posted $33.11 million and $33.4 million of sales in current and next quarters respectively a year earlier. Analysts are expecting this quarter sales to grow by 3.70% while estimating it to be 5.30% for the next quarter.
Weighing up company’s earnings over the past 5-year and in the next 5-year periods, we find the company posting an annual earnings growth rate of -5.39% during past 5 years. In 2023, company’s earnings growth rate is likely to be around -241.67% while estimates for its earnings growth in next 5 years are of 30.00%.
PowerFleet Inc is more likely to be releasing its next quarterly report in December and investors are confident in the company announcing better current-quarter dividends despite the fact that it has been facing issues arising out of mounting debt.
PowerFleet Inc (NASDAQ:PWFL)’s Major holders
Insiders are in possession of 8.56% of company’s total shares while institution are holding 76.58 percent of that, with stock having share float percentage of 83.75%. Investors also watch the number of corporate investors in a company very closely, which is 76.58% institutions for PowerFleet Inc that are currently holding shares of the company. Private Capital Management, Inc. is the top institutional holder at PWFL for having 5.05 million shares of worth $15.16 million. And as of Jun 29, 2023, it was holding 13.95% of the company’s outstanding shares.
The second largest institutional holder is Lynrock Lake LP, which was holding about 3.6 million shares on Jun 29, 2023. The number of shares represents firm’s hold over 9.95% of outstanding shares, having a total worth of $10.81 million.
On the other hand, Fidelity Strategic Advisors Small-Mid Cap Fund and Columbia Fds Ser Tr I-Columbia Small Cap Value Fd I are the top two Mutual Funds which own company’s shares. As of Jun 29, 2023, the former fund manager was holding 1.59 million shares of worth $4.77 million or 4.38% of the total outstanding shares. The later fund manager was in possession of 1.01 million shares on Jul 30, 2023, making its stake of worth around $2.73 million in the company or a holder of 2.78% of company’s stock.