PowerFleet, Inc. (NASDAQ:AIOT) Given Consensus Recommendation of “Buy” by Brokerages

PowerFleet, Inc. (NASDAQ:AIOT) has been assigned a consensus rating of “Buy” from the five ratings firms that are presently covering the stock, MarketBeat.com reports. Five research analysts have rated the stock with a buy recommendation. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $10.50.

A number of research firms have recently issued reports on AIOT. Barrington Research reissued an “outperform” rating and issued a $15.00 price target on shares of PowerFleet in a research note on Friday, June 13th. Lake Street Capital set a $8.00 price target on shares of PowerFleet and gave the company a “buy” rating in a research note on Tuesday, May 27th. Raymond James Financial reduced their price target on shares of PowerFleet from $10.00 to $8.00 and set an “outperform” rating on the stock in a research note on Tuesday, April 29th. Finally, Wall Street Zen raised shares of PowerFleet from a “sell” rating to a “hold” rating in a research note on Saturday, June 21st.

Institutional Investors Weigh In On PowerFleet

Several large investors have recently added to or reduced their stakes in AIOT. Signaturefd LLC acquired a new position in PowerFleet during the 4th quarter worth approximately $25,000. NBC Securities Inc. acquired a new position in PowerFleet during the 1st quarter worth approximately $36,000. Comerica Bank acquired a new position in PowerFleet during the 4th quarter worth approximately $42,000. California State Teachers Retirement System acquired a new position in PowerFleet during the 4th quarter worth approximately $46,000. Finally, GAMMA Investing LLC acquired a new position in PowerFleet during the 1st quarter worth approximately $46,000. 73.40% of the stock is owned by hedge funds and other institutional investors.

PowerFleet Price Performance

Shares of AIOT stock opened at $4.37 on Friday. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.21 and a quick ratio of 1.02. The firm’s 50-day moving average is $4.99 and its two-hundred day moving average is $5.81. PowerFleet has a 12 month low of $3.70 and a 12 month high of $8.71. The company has a market capitalization of $579.07 million, a PE ratio of -10.16 and a beta of 1.35.

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.