PowerFleet (NASDAQ:AIOT) Raised to Hold at Wall Street Zen

PowerFleet (NASDAQ:AIOT) was upgraded by investment analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a report released on Saturday.

AIOT has been the subject of several other research reports. Barrington Research reiterated an “outperform” rating and set a $15.00 target price on shares of PowerFleet in a research report on Friday, June 13th. Raymond James Financial cut their target price on PowerFleet from $10.00 to $8.00 and set an “outperform” rating for the company in a research report on Tuesday, April 29th. Finally, Lake Street Capital set a $8.00 price target on PowerFleet and gave the company a “buy” rating in a research note on Tuesday, May 27th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, PowerFleet presently has a consensus rating of “Moderate Buy” and an average target price of $10.50.

PowerFleet Stock Performance

NASDAQ:AIOT opened at $4.54 on Friday. The company has a current ratio of 1.21, a quick ratio of 1.02 and a debt-to-equity ratio of 0.51. PowerFleet has a 12-month low of $3.70 and a 12-month high of $8.71. The stock has a 50-day moving average price of $5.01 and a 200 day moving average price of $5.86. The stock has a market capitalization of $601.60 million, a P/E ratio of -10.56 and a beta of 1.35.

Hedge Funds Weigh In On PowerFleet

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Signaturefd LLC bought a new position in PowerFleet during the fourth quarter valued at approximately $25,000. NBC Securities Inc. bought a new position in PowerFleet during the first quarter valued at approximately $36,000. Comerica Bank bought a new stake in shares of PowerFleet in the 4th quarter valued at approximately $42,000. California State Teachers Retirement System bought a new stake in shares of PowerFleet in the 4th quarter valued at approximately $46,000. Finally, GAMMA Investing LLC bought a new stake in shares of PowerFleet in the 1st quarter valued at approximately $46,000. 73.40% of the stock is owned by institutional investors.

PowerFleet Company Profile

PowerFleet, Inc engages in the provision of fleet management solutions for logistics, industrial, and vehicles. It offers wireless Internet of Things and machine to machine solutions for securing, controlling, tracking, and managing enterprise assets such as industrial trucks, tractor trailers, containers, cargo, and vehicle and truck fleets.