PWFL Stock Summary and Trading Ideas (Powerfleet | NASDAQ:PWFL)

PowerFleet Inc provides subscription-based wireless Internet-of-Things (IoT) and machine-to-machine (M2M) solutions for securing, controlling, tracking, and managing high-value enterprise assets such as industrial trucks, trailers, containers, cargo, light vehicles, and heavy truck fleets. The firm's systems utilize radio frequency identification, Wi-fi, satellite communications, and sensor technology to manage its assets. It operates in the segment of Wireless IoT asset management. The company has a business presence in the U. S, Israel, and other countries, of which key revenue is derived from the U.S.

Powerfleet trades on the NASDAQ stock market under the symbol PWFL.

As of April 24, 2024, PWFL stock price climbed to $4.22 with 626,189 million shares trading.

PWFL has a beta of 2.18, meaning it tends to be more sensitive to market movements. PWFL has a correlation of 0.14 to the broad based SPY ETF.

PWFL has a market cap of $455.42 million. This is considered a Small Cap stock.

Last quarter Powerfleet reported $35 million in Revenue and -$.07 earnings per share. This beat revenue expectation by $161,000 and exceeded earnings estimates by $.03.

In the last 3 years, PWFL stock traded as high as $8.28 and as low as $1.64.

The top ETF exchange traded funds that PWFL belongs to (by Net Assets): VXF, VTI, IWC, DFAT, DFAC.

PWFL has outperformed the market in the last year with a return of +53.5%, while the SPY ETF gained +24.2%. In the last 3 month period, PWFL beat the market returning +28.9%, while SPY returned +4.6%. However, in the most recent 2 weeks PWFL has underperformed the stock market by returning -5.6%, while SPY returned -2.7%.

PWFL support price is $3.96 and resistance is $4.42 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that PWFL stock will trade within this expected range on the day.