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

PowerFleet, Inc. (NASDAQ:AIOT) has been given a consensus recommendation of “Moderate Buy” by the seven research firms that are covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and five have issued a buy recommendation on the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $10.50.

Several analysts have recently commented on the company. Weiss Ratings restated a “sell (d-)” rating on shares of PowerFleet in a report on Wednesday, October 8th. Barrington Research reiterated an “outperform” rating and set a $15.00 price target on shares of PowerFleet in a research report on Monday. Zacks Research raised shares of PowerFleet from a “strong sell” rating to a “hold” rating in a report on Monday, October 13th. Wall Street Zen raised shares of PowerFleet from a “sell” rating to a “hold” rating in a research note on Saturday, December 13th. Finally, William Blair reiterated an “outperform” rating on shares of PowerFleet in a research report on Tuesday, November 11th.

Institutional Investors Weigh In On PowerFleet

Several hedge funds and other institutional investors have recently made changes to their positions in AIOT. Corebridge Financial Inc. lifted its stake in shares of PowerFleet by 4.3% during the first quarter. Corebridge Financial Inc. now owns 49,009 shares of the company’s stock valued at $269,000 after acquiring an additional 2,036 shares during the period. Royal Bank of Canada raised its holdings in PowerFleet by 198.0% during the 1st quarter. Royal Bank of Canada now owns 91,365 shares of the company’s stock worth $501,000 after purchasing an additional 60,705 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in PowerFleet by 275.7% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 203,211 shares of the company’s stock worth $1,116,000 after purchasing an additional 149,116 shares during the last quarter. Dynamic Technology Lab Private Ltd acquired a new position in PowerFleet during the 1st quarter valued at about $251,000. Finally, Goldman Sachs Group Inc. boosted its stake in shares of PowerFleet by 15.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,045,424 shares of the company’s stock valued at $5,739,000 after purchasing an additional 138,856 shares during the last quarter. 73.40% of the stock is owned by institutional investors and hedge funds.

PowerFleet Stock Performance

NASDAQ AIOT opened at $5.59 on Wednesday. The firm has a market cap of $748.05 million, a price-to-earnings ratio of -18.03 and a beta of 1.34. The company has a 50 day moving average of $5.08 and a 200-day moving average of $4.87. The company has a current ratio of 1.07, a quick ratio of 0.93 and a debt-to-equity ratio of 0.49. PowerFleet has a 1-year low of $3.70 and a 1-year high of $8.71.

PowerFleet (NASDAQ:AIOT) last announced its earnings results on Monday, November 10th. The company reported $0.02 EPS for the quarter, hitting the consensus estimate of $0.02. The business had revenue of $111.68 million for the quarter, compared to the consensus estimate of $105.51 million. PowerFleet had a negative return on equity of 9.00% and a negative net margin of 9.70%. On average, equities analysts forecast that PowerFleet will post -0.32 earnings per share for the current fiscal year.

About PowerFleet

PowerFleet, Inc (NASDAQ: AIOT) develops and delivers Internet of Things (IoT)–based telematics and asset-tracking solutions designed to help businesses monitor, manage and optimize fleets of vehicles and industrial equipment. Its core offerings include wireless sensors, GPS tracking devices and cloud-hosted software platforms that provide real-time visibility into vehicle whereabouts, usage patterns, fuel consumption and maintenance needs. The company’s systems also support regulatory compliance and safety monitoring, enabling customers to reduce operational costs, minimize theft and improve overall asset utilization.

The company’s hardware portfolio features RFID readers, active and passive tags, onboard diagnostics (OBD) adapters and temperature or motion sensors that can be deployed on trucks, trailers, forklifts, containers and other high-value assets.