PowerFleet, Inc. (NASDAQ:AIOT) Stock Now Rated “Hold” by Sell-Side Analysts

PowerFleet, Inc. (NASDAQ:AIOT) has earned an average rating of “Hold” from the five analysts that are covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and two have issued a buy recommendation on the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $7.40.

Several brokerages have weighed in on AIOT. Weiss Ratings reissued a “sell (d-)” rating on shares of PowerFleet in a report on Friday, September 11th. Barrington Research set a $10.00 target price on shares of PowerFleet in a research note on Monday, August 10th. Wall Street Zen cut shares of PowerFleet from a “hold” rating to a “sell” rating in a research report on Saturday, August 15th. Northland Securities set a $7.00 price target on shares of PowerFleet in a research report on Tuesday, August 11th. Finally, Craig Hallum dropped their price target on shares of PowerFleet from $9.00 to $6.00 and set a “buy” rating for the company in a research note on Tuesday, August 11th.

Institutional Trading of PowerFleet

Institutional investors have recently bought and sold shares of the business. State of Wyoming acquired a new position in shares of PowerFleet in the 2nd quarter valued at $27,000. Royal Bank of Canada boosted its position in shares of PowerFleet by 76.9% in the 1st quarter. Royal Bank of Canada now owns 11,233 shares of the company’s stock worth $34,000 after purchasing an additional 4,883 shares during the last quarter. Wedbush Securities Inc. bought a new position in shares of PowerFleet in the 3rd quarter worth $39,000. Legal & General Group Plc bought a new position in shares of PowerFleet in the 2nd quarter worth $48,000. Finally, Bienville Capital Management LLC acquired a new stake in shares of PowerFleet during the second quarter worth $54,000. Institutional investors and hedge funds own 73.40% of the company’s stock.

PowerFleet Trading Down 1.6%

AIOT stock opened at $2.43 on Friday. The company has a market cap of $327.95 million, a P/E ratio of -15.19 and a beta of 1.42. PowerFleet has a twelve month low of $2.29 and a twelve month high of $5.81. The company has a quick ratio of 0.96, a current ratio of 1.02 and a debt-to-equity ratio of 0.48. The business has a fifty day moving average of $2.76 and a 200-day moving average of $3.40.

PowerFleet (NASDAQ:AIOT) last issued its quarterly earnings results on Monday, November 9th. The company reported $0.04 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.02) by $0.06. The business had revenue of $115.72 million for the quarter, compared to analyst estimates of $114.89 million. PowerFleet had a positive return on equity of 2.36% and a negative net margin of 4.69%. During the same quarter in the prior year, the firm posted ($0.02) earnings per share. As a group, equities research analysts expect that PowerFleet will post 0.08 EPS for the current year.

PowerFleet Company Profile

PowerFleet, Inc. provides software-as-a-service and Internet of Things solutions that help businesses monitor and manage vehicles, equipment, cargo and other mobile assets. Its platforms use connected devices and data analytics to provide visibility into asset location, utilization, condition and performance. Its offerings include fleet management and vehicle telematics, asset tracking, driver and safety tools, and solutions for managing equipment in warehouses and other industrial settings. These services are designed to help customers improve operational efficiency, safety and asset control.