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

Shares of PowerFleet, Inc. (NASDAQ:AIOT) have earned a consensus recommendation of “Hold” from the five analysts that are currently covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the company. The average 1 year price objective among analysts that have covered the stock in the last year is $9.6667.

A number of research analysts recently weighed in on AIOT shares. Weiss Ratings lowered PowerFleet from a “hold (c-)” rating to a “sell (d-)” rating in a report on Tuesday, June 16th. UBS Group set a $7.00 price objective on shares of PowerFleet in a research report on Tuesday, June 16th. Wall Street Zen upgraded shares of PowerFleet from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. Finally, Raymond James Financial dropped their price objective on shares of PowerFleet from $8.00 to $7.00 and set an “outperform” rating on the stock in a research report on Tuesday, June 16th.

PowerFleet Trading Down 1.6%

AIOT opened at $4.22 on Friday. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.13 and a quick ratio of 0.99. The company has a market cap of $566.24 million, a price-to-earnings ratio of -26.37 and a beta of 1.42. The firm has a 50 day simple moving average of $3.85 and a 200 day simple moving average of $3.94. PowerFleet has a fifty-two week low of $2.78 and a fifty-two week high of $5.88.

PowerFleet (NASDAQ:AIOT) last announced its quarterly earnings results on Monday, June 15th. The company reported $0.04 earnings per share for the quarter. The company had revenue of $114.49 million for the quarter, compared to analysts’ expectations of $112.98 million. PowerFleet had a negative net margin of 4.63% and a negative return on equity of 1.33%. During the same period last year, the firm posted ($0.09) earnings per share. On average, sell-side analysts anticipate that PowerFleet will post 0.17 earnings per share for the current year.

PowerFleet announced that its board has authorized a share repurchase plan on Tuesday, June 30th that authorizes the company to buyback $30.00 million in shares. This buyback authorization authorizes the company to repurchase up to 6% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board believes its stock is undervalued.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of AIOT. Hurley Capital LLC acquired a new position in shares of PowerFleet in the fourth quarter valued at approximately $32,000. Kemnay Advisory Services Inc. bought a new stake in PowerFleet during the 4th quarter worth approximately $48,000. MGO One Seven LLC bought a new stake in PowerFleet during the 4th quarter worth approximately $55,000. Krilogy Financial LLC acquired a new position in PowerFleet in the 4th quarter valued at approximately $58,000. Finally, Royal Bank of Canada increased its position in PowerFleet by 76.9% in the 1st quarter. Royal Bank of Canada now owns 11,233 shares of the company’s stock valued at $34,000 after acquiring an additional 4,883 shares during the period. Institutional investors and hedge funds own 73.40% of the company’s stock.

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.