PowerFleet (NASDAQ:AIOT) Sees Unusually-High Trading Volume – Time to Buy?

PowerFleet, Inc. (NASDAQ:AIOT) shares saw unusually-strong trading volume on Monday . Approximately 925,850 shares were traded during mid-day trading, a decline of 41% from the previous session’s volume of 1,563,171 shares.The stock last traded at $4.0490 and had previously closed at $4.22.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on AIOT shares. Wall Street Zen raised shares of PowerFleet from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. Weiss Ratings restated a “hold (c-)” rating on shares of PowerFleet in a report on Friday, May 8th. Two research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $15.00.

PowerFleet Stock Down 7.0%

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 cap of $526.54 million, a PE ratio of -17.10 and a beta of 1.43. The stock has a fifty day moving average price of $3.43 and a 200-day moving average price of $4.12.

PowerFleet (NASDAQ:AIOT) last issued its earnings results on Monday, June 15th. The company reported $0.04 earnings per share (EPS) for the quarter. PowerFleet had a negative return on equity of 5.23% and a negative net margin of 7.00%.The business had revenue of $114.49 million during the quarter, compared to analysts’ expectations of $112.98 million. During the same quarter in the previous year, the business earned ($0.09) EPS. Research analysts expect that PowerFleet, Inc. will post -0.13 EPS for the current year.

Institutional Trading of PowerFleet

Institutional investors have recently modified their holdings of the company. Hurley Capital LLC purchased a new stake in shares of PowerFleet during the 4th quarter worth about $32,000. Kemnay Advisory Services Inc. purchased a new position in PowerFleet in the fourth quarter valued at about $48,000. MGO One Seven LLC purchased a new position in PowerFleet in the fourth quarter valued at about $55,000. Krilogy Financial LLC purchased a new position in PowerFleet in the fourth quarter valued at about $58,000. Finally, Royal Bank of Canada raised its position in PowerFleet by 76.9% in the first quarter. Royal Bank of Canada now owns 11,233 shares of the company’s stock valued at $34,000 after purchasing an additional 4,883 shares during the period. Hedge funds and other institutional investors own 73.40% of the company’s stock.

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.