PowerFleet (NASDAQ:AIOT) Stock Rating Upgraded by Wall Street Zen

PowerFleet (NASDAQ:AIOT) was upgraded by Wall Street Zen from a “sell” rating to a “hold” rating in a research note issued to investors on Saturday.

Several other research analysts have also recently weighed in on the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of PowerFleet in a research report on Friday. Zacks Research raised shares of PowerFleet from a “strong sell” rating to a “hold” rating in a research report on Monday, October 13th. Finally, Barrington Research reissued an “outperform” rating and set a $15.00 price target on shares of PowerFleet in a research report on Tuesday, September 23rd. Five research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, PowerFleet has a consensus rating of “Moderate Buy” and a consensus price target of $10.50.

PowerFleet Price Performance

NASDAQ AIOT opened at $5.39 on Friday. The stock has a market cap of $719.24 million, a price-to-earnings ratio of -17.97 and a beta of 1.32. PowerFleet has a 52-week low of $3.70 and a 52-week high of $8.71. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.92 and a current ratio of 1.07. The business has a 50 day simple moving average of $5.06 and a 200 day simple moving average of $4.83.

Insider Buying and Selling at PowerFleet

In related news, CEO Steven Mark Towe purchased 23,157 shares of the firm’s stock in a transaction that occurred on Thursday, August 14th. The shares were acquired at an average price of $4.42 per share, for a total transaction of $102,353.94. Following the purchase, the chief executive officer owned 2,457,923 shares in the company, valued at approximately $10,864,019.66. This represents a 0.95% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Michael J. Mcconnell purchased 10,000 shares of the stock in a transaction on Monday, August 18th. The stock was bought at an average cost of $4.64 per share, for a total transaction of $46,400.00. Following the completion of the acquisition, the director owned 28,028 shares in the company, valued at approximately $130,049.92. This trade represents a 55.47% increase in their ownership of the stock. The disclosure for this purchase can be found here. 6.30% of the stock is owned by insiders.

Institutional Trading of PowerFleet

A number of institutional investors have recently bought and sold shares of the business. State of Alaska Department of Revenue bought a new position in shares of PowerFleet during the third quarter worth approximately $31,000. CWM LLC grew its holdings in shares of PowerFleet by 784.9% during the 3rd quarter. CWM LLC now owns 6,203 shares of the company’s stock worth $33,000 after purchasing an additional 5,502 shares in the last quarter. BNP Paribas Financial Markets grew its holdings in shares of PowerFleet by 100.9% during the 2nd quarter. BNP Paribas Financial Markets now owns 11,756 shares of the company’s stock worth $51,000 after purchasing an additional 5,904 shares in the last quarter. Spire Wealth Management increased its position in shares of PowerFleet by 39.6% in the second quarter. Spire Wealth Management now owns 12,750 shares of the company’s stock worth $55,000 after purchasing an additional 3,620 shares during the period. Finally, Ameritas Investment Partners Inc. raised its stake in PowerFleet by 43.2% in the second quarter. Ameritas Investment Partners Inc. now owns 12,692 shares of the company’s stock valued at $55,000 after purchasing an additional 3,826 shares in the last quarter. Institutional investors own 73.40% of the company’s stock.

PowerFleet Company Profile

PowerFleet, Inc engages in the provision of fleet management solutions for logistics, industrial, and vehicles. It offers wireless Internet of Things and machine to machine solutions for securing, controlling, tracking, and managing enterprise assets such as industrial trucks, tractor trailers, containers, cargo, and vehicle and truck fleets.