PowerFleet Inc (NASDAQ: PWFL) Trading above Its 20 Day MA ($4.71), Why Showing An Interesting Price Pattern?

PowerFleet Inc (NASDAQ:PWFL) does about 853.81K shares in volume on a normal day but saw 757677 shares change hands in Tuesday’s trading. The company now has a market cap of 585.06M USD. Its current market price is $5.45, marking a decrease of -0.55% compared to the previous close of $5.48. The 52 week high reached by this stock is $5.67 whilst the lowest price level in 52 weeks is $1.64.

PowerFleet Inc (PWFL) has a 20-day trading average at $4.71 and the current price is -3.88% off the 52-week high compared with 232.32% distance from its 52-week low. The 50-day simple moving average of the closing price is $4.38 and its 200-day simple moving average is $2.96. If we look at the stock’s price movements over the week, volatility stands at 4.96%, which increases to 6.04% over 1 month. It is also key to look at other market indicators of price movement for the stock, where we see that the relative strength index (RSI) is at 70.79 to suggest the stock is overbought.

The consensus objective for the share price is $8.43, suggesting that the stock has a potential upside of 35.35% over the period.

Northland Capital initiated its price target at $7.

PowerFleet Inc (PWFL) stock is up 6.45% over the week and 28.84% over the past month. Its price is 59.36% year-to-date and 88.58% over the past year.

The stock last released its quarterly earnings report for quarter ended 12/31/2023, with the company’s earnings per share (EPS) of 0.08 above consensus estimates by 0.14. The company’s next earnings report forecasts estimating quarterly EPS at -0.1 and 0.05 for whole year. Expected sales for next quarter are $70.11M, which analysts say will come at $250.73M for the current fiscal year and next year at $316.14M. In addition, estimates put the company’s current quarterly revenue at an average of $32.77M.

To reach the target analysts have set, the stock logically needs to grow 35.35 percent from here.

The company has a return on investment of -8.59% and return on equity of -3.87%. The beta has a value of 1.76. Price to book ratio is 3.53 and price to sales ratio is 4.38.