PowerFleet, Inc. (NASDAQ:AIOT) Given Consensus Rating of “Buy” by Analysts

PowerFleet, Inc. (NASDAQ:AIOT) has received an average rating of “Buy” from the five ratings firms that are presently covering the stock, Marketbeat Ratings reports. Five equities research analysts have rated the stock with a buy recommendation. The average 12-month price target among analysts that have issued a report on the stock in the last year is $10.50.

AIOT has been the subject of a number of recent research reports. Barrington Research reissued an “outperform” rating and set a $15.00 price target on shares of PowerFleet in a research report on Friday, June 13th. Wall Street Zen upgraded shares of PowerFleet from a “sell” rating to a “hold” rating in a research note on Saturday, June 21st. Raymond James Financial reduced their price objective on shares of PowerFleet from $10.00 to $8.00 and set an “outperform” rating for the company in a research note on Tuesday, April 29th. Finally, Lake Street Capital set a $8.00 price objective on shares of PowerFleet and gave the company a “buy” rating in a research note on Tuesday, May 27th.

Institutional Trading of PowerFleet

A number of large investors have recently made changes to their positions in AIOT. Corebridge Financial Inc. boosted its holdings in shares of PowerFleet by 4.3% in the first quarter. Corebridge Financial Inc. now owns 49,009 shares of the company’s stock worth $269,000 after buying an additional 2,036 shares during the last quarter. Inspire Investing LLC boosted its holdings in shares of PowerFleet by 4.0% in the first quarter. Inspire Investing LLC now owns 62,253 shares of the company’s stock worth $342,000 after buying an additional 2,419 shares during the last quarter. Oppenheimer Asset Management Inc. lifted its holdings in PowerFleet by 14.7% during the first quarter. Oppenheimer Asset Management Inc. now owns 20,242 shares of the company’s stock valued at $111,000 after purchasing an additional 2,594 shares in the last quarter. Spire Wealth Management lifted its holdings in PowerFleet by 39.6% during the second quarter. Spire Wealth Management now owns 12,750 shares of the company’s stock valued at $55,000 after purchasing an additional 3,620 shares in the last quarter. Finally, ProShare Advisors LLC lifted its holdings in PowerFleet by 17.7% during the second quarter. ProShare Advisors LLC now owns 25,489 shares of the company’s stock valued at $110,000 after purchasing an additional 3,833 shares in the last quarter. 73.40% of the stock is currently owned by institutional investors.

PowerFleet Trading Down 2.5%

NASDAQ:AIOT opened at $3.87 on Friday. The company has a 50-day moving average price of $4.42 and a 200-day moving average price of $5.33. PowerFleet has a 12 month low of $3.70 and a 12 month high of $8.71. The company has a current ratio of 1.12, a quick ratio of 1.00 and a debt-to-equity ratio of 0.52. The stock has a market cap of $516.41 million, a price-to-earnings ratio of -9.00 and a beta of 1.35.

About PowerFleet

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.