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

Shares of PowerFleet, Inc. (NASDAQ:AIOT) have earned an average rating of “Moderate Buy” from the seven ratings firms that are currently covering the firm, MarketBeat reports. One analyst has rated the stock with a sell rating, one has issued a hold rating and five have assigned a buy rating to the company. The average 1-year price objective among brokers that have covered the stock in the last year is $10.50.

A number of equities research analysts recently weighed in on AIOT shares. Zacks Research upgraded PowerFleet from a “strong sell” rating to a “hold” rating in a report on Monday, October 13th. Wall Street Zen raised PowerFleet from a “sell” rating to a “hold” rating in a report on Saturday, December 13th. William Blair reissued an “outperform” rating on shares of PowerFleet in a report on Tuesday, November 11th. Barrington Research restated an “outperform” rating and issued a $15.00 price target on shares of PowerFleet in a research report on Monday, January 5th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of PowerFleet in a research note on Wednesday, January 21st.

PowerFleet Stock Performance

NASDAQ:AIOT opened at $4.57 on Friday. The firm’s fifty day simple moving average is $5.30 and its 200-day simple moving average is $5.01. The company has a quick ratio of 0.93, a current ratio of 1.07 and a debt-to-equity ratio of 0.49. The stock has a market cap of $611.56 million, a PE ratio of -14.74 and a beta of 1.33. PowerFleet has a fifty-two week low of $3.70 and a fifty-two week high of $8.71.

PowerFleet (NASDAQ:AIOT) last released its quarterly earnings data on Monday, November 10th. The company reported $0.02 EPS for the quarter, hitting analysts’ consensus estimates of $0.02. PowerFleet had a negative net margin of 9.70% and a negative return on equity of 9.00%. The firm had revenue of $111.68 million for the quarter, compared to the consensus estimate of $105.51 million. Analysts expect that PowerFleet will post -0.32 earnings per share for the current fiscal year.

Institutional Trading of PowerFleet

Several large investors have recently modified their holdings of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of 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 in the last quarter. Spire Wealth Management grew its holdings in PowerFleet by 39.6% during the 2nd quarter. Spire Wealth Management now owns 12,750 shares of the company’s stock valued at $55,000 after buying an additional 3,620 shares during the last quarter. Ameritas Investment Partners Inc. increased its position in PowerFleet by 43.2% during the second quarter. Ameritas Investment Partners Inc. now owns 12,692 shares of the company’s stock worth $55,000 after buying an additional 3,826 shares in the last quarter. ProShare Advisors LLC raised its holdings in shares of PowerFleet by 17.7% in the second quarter. ProShare Advisors LLC now owns 25,489 shares of the company’s stock worth $110,000 after acquiring an additional 3,833 shares during the last quarter. Finally, R Squared Ltd lifted its position in shares of PowerFleet by 40.6% in the fourth quarter. R Squared Ltd now owns 16,073 shares of the company’s stock valued at $86,000 after acquiring an additional 4,640 shares in the last quarter. 73.40% of the stock is currently owned by institutional investors and hedge funds.

About PowerFleet

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.