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

PowerFleet, Inc. (NASDAQ:AIOT) has been given a consensus rating of “Moderate Buy” by the six research firms that are presently covering the company, MarketBeat reports. Two investment analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $10.3333.

A number of analysts have recently issued reports on the stock. Barrington Research reissued an “outperform” rating and issued a $15.00 price target on shares of PowerFleet in a research report on Friday, February 6th. Weiss Ratings raised shares of PowerFleet from a “sell (d-)” rating to a “hold (c-)” rating in a research report on Tuesday, February 10th. Finally, Wall Street Zen upgraded shares of PowerFleet from a “sell” rating to a “hold” rating in a research note on Saturday, December 13th.

PowerFleet Stock Down 4.8%

NASDAQ:AIOT opened at $2.79 on Monday. The firm has a market capitalization of $374.28 million, a price-to-earnings ratio of -12.13 and a beta of 1.37. PowerFleet has a 1-year low of $2.78 and a 1-year high of $6.38. The company has a current ratio of 1.09, a quick ratio of 0.96 and a debt-to-equity ratio of 0.48. The business’s fifty day moving average price is $4.23 and its 200 day moving average price is $4.83.

PowerFleet (NASDAQ:AIOT) last announced its quarterly earnings data on Monday, February 9th. The company reported $0.02 EPS for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.02). PowerFleet had a negative return on equity of 5.23% and a negative net margin of 7.00%.The business had revenue of $113.49 million for the quarter, compared to analyst estimates of $111.69 million. On average, sell-side analysts forecast that PowerFleet will post -0.32 earnings per share for the current fiscal year.

Institutional Trading of PowerFleet

Several hedge funds and other institutional investors have recently modified their holdings of AIOT. Voss Capital LP raised its holdings in shares of PowerFleet by 104.3% during the second quarter. Voss Capital LP now owns 5,559,491 shares of the company’s stock worth $23,961,000 after acquiring an additional 2,838,900 shares in the last quarter. Wasatch Advisors LP purchased a new position in PowerFleet in the second quarter valued at about $6,426,000. Kennedy Capital Management LLC increased its position in PowerFleet by 292.3% in the 4th quarter. Kennedy Capital Management LLC now owns 1,970,918 shares of the company’s stock worth $10,485,000 after purchasing an additional 1,468,573 shares during the last quarter. Pinnacle Associates Ltd. raised its stake in shares of PowerFleet by 635.7% during the 3rd quarter. Pinnacle Associates Ltd. now owns 1,398,305 shares of the company’s stock worth $7,327,000 after purchasing an additional 1,208,252 shares in the last quarter. Finally, Nuveen LLC raised its stake in shares of PowerFleet by 44.7% during the 4th quarter. Nuveen LLC now owns 3,312,956 shares of the company’s stock worth $17,625,000 after purchasing an additional 1,023,077 shares in the last quarter. 73.40% of the stock is currently owned by hedge funds and other institutional investors.

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.