PowerFleet (NASDAQ:AIOT) Announces Earnings Results

PowerFleet (NASDAQ:AIOT) announced its quarterly earnings data on Monday. The company reported $0.04 EPS for the quarter, FiscalAI reports. The firm had revenue of $114.49 million for the quarter, compared to analyst estimates of $112.98 million. PowerFleet had a negative return on equity of 5.23% and a negative net margin of 7.00%.During the same period last year, the company earned ($0.09) EPS.

PowerFleet Stock Performance

AIOT opened at $4.22 on Monday. The business’s 50-day moving average price is $3.43 and its two-hundred day moving average price is $4.12. PowerFleet has a 1 year low of $2.78 and a 1 year high of $5.88. The company has a market capitalization of $566.11 million, a price-to-earnings ratio of -18.35 and a beta of 1.43. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.09 and a quick ratio of 0.96.

Institutional Trading of PowerFleet

Several hedge funds and other institutional investors have recently modified their holdings of the company. Mercer Global Advisors Inc. ADV bought a new position in shares of PowerFleet in the 4th quarter valued at about $63,000. Stoic Point Capital Management LLC bought a new position in shares of PowerFleet in the 4th quarter valued at about $3,671,000. Private Capital Management LLC grew its holdings in shares of PowerFleet by 3.1% in the 4th quarter. Private Capital Management LLC now owns 7,584,853 shares of the company’s stock valued at $40,351,000 after acquiring an additional 230,780 shares in the last quarter. Engineers Gate Manager LP bought a new position in shares of PowerFleet in the 4th quarter valued at about $316,000. Finally, Boothbay Fund Management LLC bought a new position in shares of PowerFleet in the 4th quarter valued at about $125,000. Institutional investors and hedge funds own 73.40% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. Wall Street Zen raised PowerFleet from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. Weiss Ratings reissued a “hold (c-)” rating on shares of PowerFleet in a research note on Friday, May 8th. Two investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $15.00.

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.