PowerFleet (NASDAQ:AIOT) Stock Rating Lowered by Wall Street Zen

PowerFleet (NASDAQ:AIOT) was downgraded by equities research analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a report released on Sunday.

Other research analysts also recently issued reports about the stock. Weiss Ratings restated a “sell (d-)” rating on shares of PowerFleet in a research note on Wednesday, October 8th. Barrington Research reaffirmed an “outperform” rating and issued a $15.00 price target on shares of PowerFleet in a report on Tuesday, September 23rd. Finally, Zacks Research cut shares of PowerFleet from a “hold” rating to a “strong sell” rating in a report on Friday, August 15th. Five research analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, PowerFleet currently has a consensus rating of “Hold” and a consensus target price of $10.50.

PowerFleet Price Performance

Shares of AIOT stock opened at $5.14 on Friday. The company has a market capitalization of $685.88 million, a PE ratio of -17.13 and a beta of 1.32. The firm has a fifty day simple moving average of $4.86 and a 200-day simple moving average of $4.80. The company has a current ratio of 1.07, a quick ratio of 0.92 and a debt-to-equity ratio of 0.51. PowerFleet has a twelve month low of $3.70 and a twelve month high of $8.71.

Insiders Place Their Bets

In other PowerFleet news, Director Michael J. Mcconnell bought 10,000 shares of the company’s stock in a transaction on Monday, August 18th. The shares were bought at an average cost of $4.64 per share, with a total value of $46,400.00. Following the completion of the acquisition, the director owned 28,028 shares of the company’s stock, valued at approximately $130,049.92. This trade represents a 55.47% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Steven Mark Towe bought 23,157 shares of the company’s stock in a transaction on Thursday, August 14th. The shares were acquired at an average cost of $4.42 per share, for a total transaction of $102,353.94. Following the completion of the acquisition, the chief executive officer directly owned 2,457,923 shares of the company’s stock, valued at $10,864,019.66. This trade represents a 0.95% increase in their position. The disclosure for this purchase can be found here. 6.30% of the stock is currently owned by corporate insiders.

Institutional Trading of PowerFleet

A number of large investors have recently modified their holdings of AIOT. GAMMA Investing LLC acquired a new stake in shares of PowerFleet in the 1st quarter worth about $46,000. Oppenheimer Asset Management Inc. increased its holdings in shares of PowerFleet by 14.7% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 20,242 shares of the company’s stock worth $111,000 after acquiring an additional 2,594 shares during the period. Oppenheimer & Co. Inc. acquired a new stake in shares of PowerFleet in the 1st quarter worth about $172,000. Lisanti Capital Growth LLC acquired a new stake in shares of PowerFleet in the 1st quarter worth about $2,260,000. Finally, Teacher Retirement System of Texas acquired a new stake in shares of PowerFleet in the 1st quarter worth about $95,000. Institutional investors and hedge funds own 73.40% of the company’s stock.

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.