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

PowerFleet, Inc. (NASDAQ:AIOT) has earned an average recommendation of “Moderate Buy” from the six analysts that are currently covering the stock, MarketBeat.com reports. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $10.3333.

A number of brokerages have recently weighed in on AIOT. Weiss Ratings upgraded PowerFleet from a “sell (d-)” rating to a “hold (c-)” rating in a research report on Tuesday, February 10th. Barrington Research reiterated an “outperform” rating and issued a $15.00 target price on shares of PowerFleet in a research report on Friday, February 6th. Finally, Wall Street Zen raised PowerFleet from a “sell” rating to a “hold” rating in a research note on Saturday, December 13th.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Hurley Capital LLC purchased a new position in shares of PowerFleet in the fourth quarter valued at $32,000. State of Alaska Department of Revenue purchased a new stake in PowerFleet during the third quarter valued at $31,000. CWM LLC raised its stake in PowerFleet by 784.9% during the third quarter. CWM LLC now owns 6,203 shares of the company’s stock valued at $33,000 after purchasing an additional 5,502 shares in the last quarter. Kemnay Advisory Services Inc. bought a new position in PowerFleet during the fourth quarter valued at $48,000. Finally, MGO One Seven LLC bought a new position in PowerFleet during the fourth quarter valued at $55,000. 73.40% of the stock is currently owned by institutional investors.

PowerFleet Price Performance

AIOT stock opened at $2.91 on Monday. PowerFleet has a one year low of $2.78 and a one year high of $6.07. The company’s fifty day moving average price is $3.97 and its 200-day moving average price is $4.77. 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 company has a market capitalization of $390.38 million, a PE ratio of -12.65 and a beta of 1.37.

PowerFleet (NASDAQ:AIOT) last posted its earnings results on Monday, February 9th. The company reported $0.02 earnings per share for the quarter, missing the consensus estimate of $0.04 by ($0.02). The company had revenue of $113.49 million for the quarter, compared to analysts’ expectations of $111.69 million. PowerFleet had a negative net margin of 7.00% and a negative return on equity of 5.23%. On average, equities analysts anticipate that PowerFleet will post -0.32 EPS for the current fiscal year.

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.