Powerfleet (NASDAQ:AIOT) Stock Price Down 5.3% – Here’s What Happened

Powerfleet, Inc. (NASDAQ:AIOT) shares fell 5.3% during mid-day trading on Friday . The stock traded as low as $5.71 and last traded at $5.72. 240,710 shares traded hands during trading, a decline of 71% from the average session volume of 840,521 shares. The stock had previously closed at $6.04.

Analyst Ratings Changes

Separately, Barrington Research reaffirmed an “outperform” rating and issued a $10.00 price objective on shares of Powerfleet in a research report on Monday.

Powerfleet Stock Performance

The stock’s 50-day moving average is $5.12. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.99 and a current ratio of 1.71.

Powerfleet (NASDAQ:AIOT) last announced its earnings results on Thursday, August 22nd. The company reported ($0.21) earnings per share for the quarter, missing the consensus estimate of ($0.08) by ($0.13). The firm had revenue of $75.43 million during the quarter, compared to the consensus estimate of $71.13 million. Equities research analysts predict that Powerfleet, Inc. will post -0.13 EPS for the current year.

About Powerfleet

PowerFleet, Inc provides wireless Internet-of-Things asset management solutions in the United States, Israel, and internationally. The company offers real-time intelligence for organizations to capture IoT data from various types of assets with devices and sensors to increase efficiencies, and improve safety and security, as well as increase their profitability in easy-to-understand reports, dashboards, and real-time alerts; and application programming interfaces for additional integrations and development to boost other enterprise management systems and third-party applications.