PowerFleet’s (AIOT) Sell (D-) Rating Reiterated at Weiss Ratings

Weiss Ratings reissued their sell (d-) rating on shares of PowerFleet (NASDAQ:AIOT) in a report issued on Friday morning,Weiss Ratings reports.

Other equities research analysts also recently issued reports about the company. Wall Street Zen downgraded PowerFleet from a “hold” rating to a “sell” rating in a report on Sunday, October 12th. Zacks Research upgraded PowerFleet from a “strong sell” rating to a “hold” rating in a research note on Monday, October 13th. Finally, Barrington Research restated an “outperform” rating and set a $15.00 price objective on shares of PowerFleet in a research note on Tuesday, September 23rd. Five research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, PowerFleet currently has an average rating of “Moderate Buy” and a consensus price target of $10.50.

PowerFleet Price Performance

Shares of NASDAQ AIOT opened at $5.39 on Friday. PowerFleet has a twelve month low of $3.70 and a twelve month high of $8.71. The company has a current ratio of 1.07, a quick ratio of 0.92 and a debt-to-equity ratio of 0.51. The company has a market capitalization of $719.24 million, a price-to-earnings ratio of -17.97 and a beta of 1.32. The business has a 50 day simple moving average of $5.06 and a 200-day simple moving average of $4.83.

Insiders Place Their Bets

In other PowerFleet news, CEO Steven Mark Towe purchased 23,157 shares of PowerFleet stock in a transaction on Thursday, August 14th. The stock was bought at an average price of $4.42 per share, for a total transaction of $102,353.94. Following the transaction, the chief executive officer owned 2,457,923 shares of the company’s stock, valued at $10,864,019.66. The trade was a 0.95% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Michael J. Mcconnell purchased 10,000 shares of PowerFleet stock in a transaction on Monday, August 18th. The shares were acquired at an average price of $4.64 per share, with a total value of $46,400.00. Following the transaction, the director directly owned 28,028 shares in the company, valued at $130,049.92. This trade represents a 55.47% increase in their position. The disclosure for this purchase can be found here. Insiders own 6.30% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. State of Alaska Department of Revenue acquired a new position in PowerFleet during the 3rd quarter worth $31,000. SG Americas Securities LLC lifted its holdings in shares of PowerFleet by 447.2% in the third quarter. SG Americas Securities LLC now owns 66,995 shares of the company’s stock valued at $351,000 after buying an additional 54,752 shares during the period. D.A. Davidson & CO. acquired a new stake in shares of PowerFleet in the third quarter valued at $417,000. Brookwood Investment Group LLC acquired a new stake in shares of PowerFleet in the third quarter valued at $59,000. Finally, Tripletail Wealth Management LLC acquired a new stake in shares of PowerFleet in the third quarter valued at $104,000. Institutional investors and hedge funds own 73.40% of the company’s stock.

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.