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

PowerFleet, Inc. (NASDAQ:AIOT) has received an average rating of “Hold” from the five brokerages that are covering the stock, MarketBeat reports. One analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and three have assigned a buy recommendation to the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $9.6667.

A number of research firms recently issued reports on AIOT. UBS Group set a $7.00 price objective on PowerFleet in a report on Tuesday. Weiss Ratings cut PowerFleet from a “hold (c-)” rating to a “sell (d-)” rating in a report on Tuesday. Wall Street Zen upgraded 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 PowerFleet from $8.00 to $7.00 and set an “outperform” rating for the company in a report on Tuesday.

PowerFleet Price Performance

Shares of PowerFleet stock opened at $3.98 on Tuesday. The stock has a 50 day moving average price of $3.52 and a 200-day moving average price of $4.10. PowerFleet has a one year low of $2.78 and a one year high of $5.88. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.96 and a current ratio of 1.13. The stock has a market cap of $534.04 million, a price-to-earnings ratio of -24.88 and a beta of 1.43.

PowerFleet (NASDAQ:AIOT) last posted its quarterly earnings data on Monday, June 15th. The company reported $0.04 earnings per share (EPS) for the quarter. PowerFleet had a negative return on equity of 1.33% and a negative net margin of 4.63%.The company had revenue of $114.49 million during the quarter, compared to analysts’ expectations of $112.98 million. During the same quarter in the previous year, the business earned ($0.09) EPS. Equities analysts expect that PowerFleet will post 0.17 EPS for the current year.

Hedge Funds Weigh In On PowerFleet

A number of large investors have recently bought and sold shares of AIOT. Hurley Capital LLC bought a new stake in PowerFleet during the 4th quarter valued at $32,000. Kemnay Advisory Services Inc. bought a new stake in PowerFleet during the 4th quarter valued at $48,000. MGO One Seven LLC bought a new stake in PowerFleet during the 4th quarter valued at $55,000. Krilogy Financial LLC bought a new stake in PowerFleet during the 4th quarter valued at $58,000. Finally, Royal Bank of Canada raised its position in PowerFleet by 76.9% during the 1st quarter. Royal Bank of Canada now owns 11,233 shares of the company’s stock valued at $34,000 after purchasing an additional 4,883 shares in the last quarter. Hedge funds and other institutional investors own 73.40% of the company’s stock.

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.