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

Barrington Research reaffirmed their outperform rating on shares of PowerFleet (NASDAQ:AIOT) in a research note issued to investors on Friday,Benzinga reports. The brokerage currently has a $15.00 price target on the stock.

Other equities research analysts also recently issued reports about the company. William Blair restated an “outperform” rating on shares of PowerFleet in a research note on Tuesday, November 11th. Weiss Ratings restated a “sell (d-)” rating on shares of PowerFleet in a research report on Wednesday, January 21st. Zacks Research raised shares of PowerFleet from a “strong sell” rating to a “hold” rating in a research note on Monday, October 13th. Finally, Wall Street Zen raised shares of PowerFleet from a “sell” rating to a “hold” rating in a report on Saturday, December 13th. Five investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, PowerFleet has a consensus rating of “Moderate Buy” and a consensus target price of $10.50.

PowerFleet Trading Up 5.9%

Shares of PowerFleet stock opened at $4.84 on Friday. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.07 and a quick ratio of 0.93. The firm has a market cap of $647.69 million, a PE ratio of -15.61 and a beta of 1.33. PowerFleet has a 1 year low of $3.70 and a 1 year high of $8.71. The stock has a fifty day moving average price of $5.30 and a 200-day moving average price of $5.02.

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

Institutional Trading of PowerFleet

Several institutional investors and hedge funds have recently added to or reduced their stakes in AIOT. Bastion Asset Management Inc. boosted its position in shares of PowerFleet by 78.4% during the 4th quarter. Bastion Asset Management Inc. now owns 1,712,883 shares of the company’s stock worth $8,853,000 after purchasing an additional 752,782 shares in the last quarter. Pinnacle Associates Ltd. lifted its stake in PowerFleet by 56.1% in the 4th quarter. Pinnacle Associates Ltd. now owns 2,182,810 shares of the company’s stock valued at $11,613,000 after buying an additional 784,505 shares in the last quarter. Argos Wealth Advisors LLC acquired a new position in PowerFleet in the 4th quarter valued at about $279,000. MGO One Seven LLC acquired a new stake in PowerFleet during the fourth quarter worth approximately $55,000. Finally, Kornitzer Capital Management Inc. KS grew its stake in PowerFleet by 10.8% in the 4th quarter. Kornitzer Capital Management Inc. KS now owns 213,899 shares of the company’s stock worth $1,138,000 after acquiring an additional 20,909 shares during the period. 73.40% of the stock is owned by hedge funds and other institutional investors.

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.