PowerFleet (NASDAQ:AIOT) Stock Price Up 9.8% – Should You Buy?

PowerFleet, Inc. (NASDAQ:AIOT) rose 9.8% during trading on Friday . The stock traded as high as $3.95 and last traded at $3.9650. Approximately 1,299,873 shares traded hands during trading, a decline of 14% from the average daily volume of 1,516,497 shares. The stock had previously closed at $3.61.

Analysts Set New Price Targets

A number of brokerages have issued reports on AIOT. Wall Street Zen upgraded shares of PowerFleet from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. Barrington Research restated an “outperform” rating and issued a $15.00 price objective on shares of PowerFleet in a research report on Friday, February 6th. Finally, Weiss Ratings reaffirmed 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 assigned a Hold rating to the stock. Based on data from MarketBeat, PowerFleet presently has an average rating of “Moderate Buy” and a consensus target price of $15.00.

PowerFleet Stock Performance

The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.96 and a current ratio of 1.09. The firm has a market capitalization of $525.20 million, a PE ratio of -17.02 and a beta of 1.38. The firm’s 50 day moving average price is $3.20 and its 200-day moving average price is $4.18.

Institutional Trading of PowerFleet

A number of institutional investors and hedge funds have recently made changes to their positions in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in PowerFleet by 1.4% during the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 206,082 shares of the company’s stock worth $888,000 after purchasing an additional 2,871 shares during the last quarter. Connors Investor Services Inc. raised its position in shares of PowerFleet by 5.7% in the fourth quarter. Connors Investor Services Inc. now owns 56,000 shares of the company’s stock valued at $298,000 after buying an additional 3,000 shares during the last quarter. R Squared Ltd lifted its stake in shares of PowerFleet by 40.6% in the fourth quarter. R Squared Ltd now owns 16,073 shares of the company’s stock worth $86,000 after buying an additional 4,640 shares in the last quarter. Royal Bank of Canada boosted its position in PowerFleet by 76.9% during the first quarter. Royal Bank of Canada now owns 11,233 shares of the company’s stock worth $34,000 after acquiring an additional 4,883 shares during the last quarter. Finally, First Dallas Securities Inc. grew its stake in PowerFleet by 13.0% during the 3rd quarter. First Dallas Securities Inc. now owns 43,500 shares of the company’s stock valued at $228,000 after acquiring an additional 5,000 shares in the last quarter. 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.