Brokerages Set PowerFleet, Inc. (NASDAQ:AIOT) Price Target at $10.33

Shares of PowerFleet, Inc. (NASDAQ:AIOT) have earned a consensus recommendation of “Moderate Buy” from the six analysts that are currently covering the firm, Marketbeat.com reports. Two equities research analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $10.3333.

AIOT has been the topic of several research reports. Barrington Research reissued an “outperform” rating and set a $15.00 price target on shares of PowerFleet in a research report on Friday, February 6th. Weiss Ratings raised shares of PowerFleet from a “sell (d-)” rating to a “hold (c-)” rating in a research report on Tuesday, February 10th. Finally, Wall Street Zen cut shares of PowerFleet from a “hold” rating to a “sell” rating in a research report on Saturday, April 11th.

PowerFleet Price Performance

PowerFleet stock opened at $3.43 on Friday. PowerFleet has a 52-week low of $2.78 and a 52-week high of $6.07. The firm has a market capitalization of $460.13 million, a price-to-earnings ratio of -14.91 and a beta of 1.40. The company has a fifty day simple moving average of $3.30 and a 200-day simple moving average of $4.50. 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 (NASDAQ:AIOT) last announced its quarterly earnings results on Monday, February 9th. The company reported $0.02 earnings per share for the quarter, missing the consensus estimate of $0.04 by ($0.02). The firm had revenue of $113.49 million for the quarter, compared to analyst estimates of $111.69 million. PowerFleet had a negative net margin of 7.00% and a negative return on equity of 5.23%. On average, equities analysts anticipate that PowerFleet will post -0.13 EPS for the current fiscal year.

Hedge Funds Weigh In On PowerFleet

Several hedge funds have recently added to or reduced their stakes in AIOT. State of Alaska Department of Revenue purchased a new position in shares of PowerFleet during the third quarter worth approximately $31,000. Hurley Capital LLC purchased a new position in PowerFleet in the 4th quarter valued at $32,000. CWM LLC grew its position in PowerFleet by 784.9% in the 3rd quarter. CWM LLC now owns 6,203 shares of the company’s stock valued at $33,000 after buying an additional 5,502 shares during the last quarter. Pinnacle Wealth Management Advisory Group LLC purchased a new position in PowerFleet in the 1st quarter valued at $35,000. Finally, Kemnay Advisory Services Inc. purchased a new position in PowerFleet in the 4th quarter valued at $48,000. 73.40% of the stock is currently owned by hedge funds and other institutional investors.

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.