Brokerages Set PowerFleet, Inc. (NASDAQ:AIOT) PT at $10.50

Shares of PowerFleet, Inc. (NASDAQ:AIOT) have been assigned an average recommendation of “Moderate Buy” from the seven ratings firms that are presently covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, one has given a hold recommendation and five have given a buy recommendation to the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $10.50.

A number of research firms have weighed in on AIOT. Weiss Ratings reissued a “sell (d-)” rating on shares of PowerFleet in a report on Wednesday, October 8th. Wall Street Zen raised shares of PowerFleet from a “sell” rating to a “hold” rating in a research note on Saturday. Zacks Research raised shares of PowerFleet from a “strong sell” rating to a “hold” rating in a research note on Monday, October 13th. Finally, Barrington Research reaffirmed an “outperform” rating and issued a $15.00 price objective on shares of PowerFleet in a research note on Tuesday, September 23rd.

Insiders Place Their Bets

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. boosted its stake in PowerFleet by 3.8% during the first quarter. Vanguard Group Inc. now owns 6,725,504 shares of the company’s stock worth $36,923,000 after acquiring an additional 248,914 shares in the last quarter. Voss Capital LP raised its holdings in PowerFleet by 104.3% during the second quarter. Voss Capital LP now owns 5,559,491 shares of the company’s stock worth $23,961,000 after buying an additional 2,838,900 shares during the last quarter. Private Management Group Inc. raised its holdings in PowerFleet by 29.3% during the second quarter. Private Management Group Inc. now owns 4,884,151 shares of the company’s stock worth $21,051,000 after buying an additional 1,105,673 shares during the last quarter. CenterBook Partners LP raised its holdings in PowerFleet by 40.4% during the second quarter. CenterBook Partners LP now owns 4,040,568 shares of the company’s stock worth $17,415,000 after buying an additional 1,162,742 shares during the last quarter. Finally, Royce & Associates LP raised its holdings in PowerFleet by 1.3% during the first quarter. Royce & Associates LP now owns 3,724,995 shares of the company’s stock worth $20,450,000 after buying an additional 48,240 shares during the last quarter. 73.40% of the stock is owned by institutional investors.

PowerFleet Trading Down 4.0%

AIOT opened at $5.24 on Friday. PowerFleet has a fifty-two week low of $3.70 and a fifty-two week high of $8.71. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.07 and a quick ratio of 0.92. The firm has a market capitalization of $699.23 million, a price-to-earnings ratio of -17.47 and a beta of 1.32. The company’s 50 day moving average price is $5.10 and its two-hundred day moving average price is $4.84.

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.