PowerFleet, Inc. (NASDAQ:AIOT) Receives $10.33 Average Target Price from Brokerages
by Scott Moore · The Cerbat GemShares of PowerFleet, Inc. (NASDAQ:AIOT – Get Free Report) have been given an average rating of “Moderate Buy” by the six analysts that are currently covering the stock, MarketBeat.com reports. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $10.3333.
A number of brokerages have weighed in on AIOT. Barrington Research reaffirmed an “outperform” rating and issued a $15.00 price target on shares of PowerFleet in a research report on Friday, February 6th. Wall Street Zen lowered shares of PowerFleet from a “hold” rating to a “sell” rating in a research report on Saturday, April 11th. Finally, Weiss Ratings upgraded shares of PowerFleet from a “sell (d-)” rating to a “hold (c-)” rating in a research note on Tuesday, February 10th.
View Our Latest Stock Analysis on PowerFleet
PowerFleet Stock Performance
Shares of NASDAQ:AIOT opened at $3.43 on Friday. The firm has a fifty day moving average of $3.35 and a two-hundred day moving average of $4.54. The company has a quick ratio of 0.96, a current ratio of 1.09 and a debt-to-equity ratio of 0.48. PowerFleet has a 12-month low of $2.78 and a 12-month high of $6.07. The firm has a market capitalization of $460.12 million, a P/E ratio of -14.91 and a beta of 1.40.
PowerFleet (NASDAQ:AIOT – Get Free Report) last posted its quarterly earnings results on Monday, February 9th. The company reported $0.02 earnings per share 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 company had revenue of $113.49 million during the quarter, compared to analyst estimates of $111.69 million. On average, equities analysts expect that PowerFleet will post -0.32 EPS for the current fiscal year.
Institutional Trading of PowerFleet
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Wasatch Advisors LP acquired a new stake in shares of PowerFleet in the second quarter worth $6,426,000. Kennedy Capital Management LLC lifted its stake in shares of PowerFleet by 292.3% in the fourth quarter. Kennedy Capital Management LLC now owns 1,970,918 shares of the company’s stock valued at $10,485,000 after buying an additional 1,468,573 shares during the period. Pinnacle Associates Ltd. grew its position in PowerFleet by 635.7% during the third quarter. Pinnacle Associates Ltd. now owns 1,398,305 shares of the company’s stock worth $7,327,000 after buying an additional 1,208,252 shares in the last quarter. Nuveen LLC grew its position in PowerFleet by 44.7% during the fourth quarter. Nuveen LLC now owns 3,312,956 shares of the company’s stock worth $17,625,000 after buying an additional 1,023,077 shares in the last quarter. Finally, Bastion Asset Management Inc. bought a new position in PowerFleet during the third quarter valued at about $4,776,000. 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.