PowerFleet Inc (NASDAQ: PWFL)’s Outlook Shocks Bears.

In the last trading session, 2.12 million shares of the PowerFleet Inc (NASDAQ:PWFL) were traded, and its beta was 1.74. Most recently the company’s share price was $5.12, and it changed around $0.2 or 4.07% from the last close, which brings the market valuation of the company to $190.52M. PWFL currently trades at a discount to its 52-week high of $5.64, offering almost -10.16% off that amount. The share price’s 52-week low was $1.64, which indicates that the current value has risen by an impressive 67.97% since then. We note from PowerFleet Inc’s average daily trading volume that its 10-day average is 1.95 million shares, with the 3-month average coming to 499.31K.

PowerFleet Inc (NASDAQ:PWFL) trade information

Instantly PWFL has showed a green trend with a performance of 4.07% at the end of last trading. The performance over the last five days has remained in the green territory. The company’s shares are currently up 49.71% year-to-date, but still up 10.58% over the last five days. On the other hand, PowerFleet Inc (NASDAQ:PWFL) is 61.01% up in the 30-day period. We can see from the shorts that 6.16 million shares have been sold at a short interest cover period of 16.25 day(s).

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The consensus price target as assigned by Wall Street analysts is $8.67, which translates to bulls needing to increase their stock price by 40.95% from its current value. Analyst projections state that PWFL is forecast to be at a low of $7 and a high of $10.

PowerFleet Inc (PWFL) estimates and forecasts

PowerFleet Inc share prices are performing particularly well compared to other companies within the same industry. As is evident from the statistics, the company’s shares have risen 147.34 percent over the past six months and at a 146.43% annual growth rate that is well above the industry average of -3.30%. Moreover, analysts have decided to roll up on their fiscal year 2024 revenue estimates. The rating firms predict that it will loss -200.00% in revenue this quarter, and will report an increase of 100.00% in the next quarter. The year-over-year growth rate is expected to be 89.70%, up from the previous year.

Consensus estimates provided by 5 financial analysts predict the company will bring in an average of $35.72 million in revenue for the current quarter. 5 analysts expect PowerFleet Inc to make $70.11 million in revenue for the quarter ending Jun 2024. Analysts predict that the company’s current quarter sales will jump, forecast at 6.90%.

Looking at the company’s year-over-year earnings, the past five years showed a positive earnings growth rate of 3.00%. PowerFleet Inc earnings are expected to increase by 461.25% in 2024, but the outlook is positive 30.00% per year for the next five years.

PWFL Dividends

PowerFleet Inc’s next quarterly earnings report is expected to be released in May.

PowerFleet Inc (NASDAQ:PWFL)’s Major holders

Upon looking at major shareholders, it appears that insiders hold 10.86% of PowerFleet Inc shares, and 83.80% of them are in the hands of institutional investors. The stock currently has a share float of 94.01%. PowerFleet Inc stock is held by 62 institutions, with Private Capital Management, Inc. being the largest institutional investor. By Jun 29, 2023, it held 13.95% of the shares, which is about 5.05 million shares worth $15.16 million.

Lynrock Lake LP, with 9.95% or 3.6 million shares worth $10.81 million as of Jun 29, 2023, holds the second largest percentage of outstanding shares.

Fidelity Strategic Advisors Small-Mid Cap Fund and Columbia Fds Ser Tr I-Columbia Small Cap Value Fd I were the top two Mutual Funds as of Jun 29, 2023. The former held 1.59 million shares worth $4.77 million, making up 4.38% of all outstanding shares. On the other hand, Columbia Fds Ser Tr I-Columbia Small Cap Value Fd I held roughly 1.01 million shares worth around $2.73 million, which represents about 2.78% of the total shares outstanding.