PowerFleet (NASDAQ:AIOT) Given Outperform Rating at Barrington Research

Barrington Research reissued their outperform rating on shares of PowerFleet (NASDAQ:AIOT) in a research report released on Wednesday morning,Benzinga reports. The firm currently has a $15.00 target price on the stock.

Other analysts also recently issued research reports about the stock. William Blair reissued an “outperform” rating on shares of PowerFleet in a research report on Tuesday, November 11th. Zacks Research raised shares of PowerFleet from a “strong sell” rating to a “hold” rating in a research note on Monday, October 13th. Wall Street Zen downgraded shares of PowerFleet from a “hold” rating to a “sell” rating in a research report on Sunday, November 2nd. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of PowerFleet in a report on Wednesday, October 8th. Five equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, PowerFleet has a consensus rating of “Moderate Buy” and a consensus price target of $10.50.

PowerFleet Stock Performance

Shares of AIOT opened at $5.00 on Wednesday. PowerFleet has a one year low of $3.70 and a one year high of $8.71. The company has a market cap of $669.13 million, a PE ratio of -16.67 and a beta of 1.35. The stock has a 50-day moving average of $5.10 and a 200-day moving average of $4.82. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.07 and a quick ratio of 0.92.

PowerFleet (NASDAQ:AIOT) last announced its quarterly earnings results on Monday, November 10th. The company reported $0.02 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.02. The business had revenue of $111.68 million for the quarter, compared to analyst estimates of $105.51 million. PowerFleet had a negative return on equity of 8.56% and a negative net margin of 9.95%. PowerFleet has set its FY 2025 guidance at EPS. FY 2026 guidance at EPS. On average, equities research analysts predict that PowerFleet will post -0.32 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in AIOT. Connors Investor Services Inc. grew its position in PowerFleet by 12.8% in the 3rd quarter. Connors Investor Services Inc. now owns 53,000 shares of the company’s stock worth $278,000 after purchasing an additional 6,000 shares in the last quarter. CIBC Bancorp USA Inc. purchased a new position in shares of PowerFleet in the 3rd quarter worth approximately $69,000. Voss Capital LP grew its holdings in shares of PowerFleet by 4.3% in the third quarter. Voss Capital LP now owns 5,800,000 shares of the company’s stock valued at $30,392,000 after acquiring an additional 240,509 shares in the last quarter. Worth Venture Partners LLC purchased a new stake in shares of PowerFleet during the third quarter valued at approximately $177,000. Finally, Verition Fund Management LLC increased its position in shares of PowerFleet by 56.5% during the third quarter. Verition Fund Management LLC now owns 37,789 shares of the company’s stock valued at $198,000 after acquiring an additional 13,637 shares during the last quarter. 73.40% of the stock is currently owned by hedge funds and other institutional investors.

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.