Powerfleet’s (AIOT) Outperform Rating Reiterated at Barrington Research

Barrington Research reissued their outperform rating on shares of Powerfleet (NASDAQ:AIOT) in a report published on Friday morning,Benzinga reports. The brokerage currently has a $15.00 target price on the stock.

AIOT has been the topic of several other reports. Raymond James lowered their price objective on Powerfleet from $10.00 to $8.00 and set an “outperform” rating on the stock in a research note on Tuesday, April 29th. Lake Street Capital upped their price objective on Powerfleet from $7.00 to $11.00 and gave the company a “buy” rating in a research note on Tuesday, February 11th. Finally, Northland Securities upped their price objective on Powerfleet from $10.00 to $11.00 and gave the company an “outperform” rating in a research note on Tuesday, February 11th. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $11.25.

Powerfleet Trading Down 14.4%

Powerfleet stock opened at $4.82 on Friday. The business has a 50 day moving average price of $5.25 and a two-hundred day moving average price of $6.11. The company has a quick ratio of 1.02, a current ratio of 1.21 and a debt-to-equity ratio of 0.51. Powerfleet has a 12 month low of $3.70 and a 12 month high of $8.71.

Institutional Investors Weigh In On Powerfleet

Large investors have recently modified their holdings of the stock. Signaturefd LLC bought a new stake in shares of Powerfleet in the 4th quarter valued at approximately $25,000. Comerica Bank bought a new stake in Powerfleet during the 4th quarter worth approximately $42,000. NBC Securities Inc. bought a new stake in Powerfleet during the 1st quarter worth approximately $36,000. California State Teachers Retirement System bought a new stake in Powerfleet during the 4th quarter worth approximately $46,000. Finally, Spire Wealth Management bought a new stake in Powerfleet during the 4th quarter worth approximately $55,000. 73.40% of the stock is currently owned by institutional investors.

About Powerfleet

PowerFleet, Inc engages in the provision of fleet management solutions for logistics, industrial, and vehicles. It offers wireless Internet of Things and machine to machine solutions for securing, controlling, tracking, and managing enterprise assets such as industrial trucks, tractor trailers, containers, cargo, and vehicle and truck fleets.