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

PowerFleet, Inc. (NASDAQ:AIOT) has been assigned an average recommendation of “Moderate Buy” from the seven analysts that are presently covering the company, MarketBeat reports. One analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and five have issued a buy recommendation on the company. The average 12 month target price among analysts that have covered the stock in the last year is $10.50.

Several research firms have recently commented on AIOT. William Blair reissued an “outperform” rating on shares of PowerFleet in a report on Tuesday, November 11th. Wall Street Zen raised PowerFleet from a “sell” rating to a “hold” rating in a report on Saturday, December 13th. Weiss Ratings restated a “sell (d-)” rating on shares of PowerFleet in a research report on Wednesday, January 21st. Barrington Research reaffirmed an “outperform” rating and set a $15.00 price target on shares of PowerFleet in a research note on Monday, January 5th. Finally, Zacks Research upgraded shares of PowerFleet from a “strong sell” rating to a “hold” rating in a research note on Monday, October 13th.

PowerFleet Trading Down 1.7%

Shares of PowerFleet stock opened at $5.11 on Friday. The firm has a market cap of $683.82 million, a price-to-earnings ratio of -16.48 and a beta of 1.34. PowerFleet has a 52-week low of $3.70 and a 52-week high of $8.71. The company’s 50-day simple moving average is $5.30 and its 200-day simple moving average is $5.00. The company has a quick ratio of 0.93, a current ratio of 1.07 and a debt-to-equity ratio of 0.49.

PowerFleet (NASDAQ:AIOT) last announced its quarterly earnings data on Monday, November 10th. The company reported $0.02 EPS for the quarter, meeting analysts’ consensus estimates of $0.02. PowerFleet had a negative net margin of 9.70% and a negative return on equity of 9.00%. The firm had revenue of $111.68 million during the quarter, compared to the consensus estimate of $105.51 million. As a group, equities research analysts anticipate that PowerFleet will post -0.32 earnings per share for the current year.

Institutional Investors Weigh In On PowerFleet

A number of hedge funds and other institutional investors have recently modified their holdings of AIOT. State of Alaska Department of Revenue acquired a new stake in shares of PowerFleet in the 3rd quarter worth approximately $31,000. CWM LLC raised its holdings in PowerFleet by 784.9% during the third quarter. CWM LLC now owns 6,203 shares of the company’s stock worth $33,000 after purchasing an additional 5,502 shares during the last quarter. BNP Paribas Financial Markets boosted its position in PowerFleet by 100.9% during the second quarter. BNP Paribas Financial Markets now owns 11,756 shares of the company’s stock worth $51,000 after purchasing an additional 5,904 shares in the last quarter. Spire Wealth Management grew its holdings in PowerFleet by 39.6% in the second quarter. Spire Wealth Management now owns 12,750 shares of the company’s stock valued at $55,000 after purchasing an additional 3,620 shares during the last quarter. Finally, Ameritas Investment Partners Inc. increased its position in shares of PowerFleet by 43.2% in the second quarter. Ameritas Investment Partners Inc. now owns 12,692 shares of the company’s stock valued at $55,000 after buying an additional 3,826 shares in the last quarter. 73.40% of the stock is currently owned by institutional investors and hedge funds.

PowerFleet Company Profile

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.