PowerFleet, Inc. (NASDAQ:AIOT) Given Average Recommendation of “Moderate Buy” by Brokerages

PowerFleet, Inc. (NASDAQ:AIOT) has been given a consensus rating of “Moderate Buy” by the five brokerages that are currently covering the stock, Marketbeat.com reports. Two research analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $11.50.

A number of analysts recently commented on AIOT shares. Wall Street Zen upgraded PowerFleet from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. Weiss Ratings reiterated a “hold (c-)” rating on shares of PowerFleet in a research report on Friday, May 8th. Finally, Barrington Research reiterated an “outperform” rating and issued a $15.00 price objective on shares of PowerFleet in a research report on Friday, February 6th.

PowerFleet Price Performance

Shares of AIOT stock opened at $3.24 on Tuesday. The stock has a 50-day moving average price of $3.17 and a 200 day moving average price of $4.27. The company has a quick ratio of 0.96, a current ratio of 1.09 and a debt-to-equity ratio of 0.48. The firm has a market cap of $434.65 million, a price-to-earnings ratio of -14.09 and a beta of 1.38. PowerFleet has a 12 month low of $2.78 and a 12 month high of $5.98.

Hedge Funds Weigh In On PowerFleet

Institutional investors have recently modified their holdings of the stock. Hurley Capital LLC acquired a new position in shares of PowerFleet during the 4th quarter worth about $32,000. State of Alaska Department of Revenue acquired a new position in shares of PowerFleet during the 3rd quarter worth about $31,000. CWM LLC grew its position in shares of PowerFleet by 784.9% during the 3rd quarter. CWM LLC now owns 6,203 shares of the company’s stock worth $33,000 after buying an additional 5,502 shares during the period. Kemnay Advisory Services Inc. acquired a new position in shares of PowerFleet during the 4th quarter worth about $48,000. Finally, MGO One Seven LLC acquired a new position in shares of PowerFleet during the 4th quarter worth about $55,000. 73.40% of the stock is currently owned by institutional investors and hedge funds.

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.