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 changed hands 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.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on AIOT shares. Weiss Ratings reissued a “hold (c-)” rating on shares of PowerFleet in a report on Friday, May 8th. Wall Street Zen raised PowerFleet from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. Two investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $15.00.

PowerFleet Stock Down 7.0%

The firm’s 50-day moving average price is $3.43 and its 200 day moving average price is $4.12. The firm has a market capitalization of $526.54 million, a price-to-earnings ratio of -17.10 and a beta of 1.43. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.09 and a quick ratio of 0.96.

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

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in AIOT. Hurley Capital LLC acquired a new position in PowerFleet in the 4th quarter valued at about $32,000. Royal Bank of Canada raised its stake in PowerFleet by 76.9% in the 1st 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 last quarter. Pinnacle Wealth Management Advisory Group LLC acquired a new position in PowerFleet in the 1st quarter valued at about $35,000. Kemnay Advisory Services Inc. acquired a new position in PowerFleet in the 4th quarter valued at about $48,000. Finally, BNP Paribas Financial Markets raised its stake in PowerFleet by 100.9% in the 2nd quarter. BNP Paribas Financial Markets now owns 11,756 shares of the company’s stock valued at $51,000 after purchasing an additional 5,904 shares during the last quarter. Institutional investors and hedge funds own 73.40% of the company’s stock.

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.