PowerFleet (NASDAQ:AIOT) Earns Outperform Rating from Barrington Research

PowerFleet (NASDAQ:AIOT)‘s stock had its “outperform” rating reissued by analysts at Barrington Research in a report released on Friday,Benzinga reports. They presently have a $15.00 price target on the stock. Barrington Research’s target price would indicate a potential upside of 209.92% from the stock’s current price.

Several other analysts have also commented on AIOT. William Blair reaffirmed an “outperform” rating on shares of PowerFleet in a research note on Tuesday, November 11th. Zacks Research upgraded shares of PowerFleet from a “strong sell” rating to a “hold” rating in a research note on Monday, October 13th. Wall Street Zen upgraded shares of PowerFleet from a “sell” rating to a “hold” rating in a research report on Saturday, December 13th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of PowerFleet in a research report on Wednesday, January 21st. Five analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $10.50.

PowerFleet Stock Performance

Shares of AIOT opened at $4.84 on Friday. The stock has a market capitalization of $647.69 million, a P/E ratio of -15.61 and a beta of 1.33. The firm’s 50 day moving average is $5.30 and its 200-day moving average is $5.01. PowerFleet has a 12-month low of $3.70 and a 12-month high of $8.71. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.07 and a quick ratio of 0.93.

PowerFleet (NASDAQ:AIOT) last posted its quarterly earnings results on Monday, November 10th. The company reported $0.02 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.02. The firm had revenue of $111.68 million during the quarter, compared to analyst estimates of $105.51 million. PowerFleet had a negative net margin of 9.70% and a negative return on equity of 9.00%. Equities research analysts anticipate that PowerFleet will post -0.32 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in AIOT. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of PowerFleet by 1.4% in the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 206,082 shares of the company’s stock valued at $888,000 after acquiring an additional 2,871 shares during the last quarter. Spire Wealth Management increased its stake in PowerFleet by 39.6% in 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. Ameritas Investment Partners Inc. increased its stake in PowerFleet by 43.2% in the second quarter. Ameritas Investment Partners Inc. now owns 12,692 shares of the company’s stock valued at $55,000 after purchasing an additional 3,826 shares in the last quarter. ProShare Advisors LLC raised its holdings in PowerFleet by 17.7% in the second quarter. ProShare Advisors LLC now owns 25,489 shares of the company’s stock worth $110,000 after purchasing an additional 3,833 shares during the period. Finally, R Squared Ltd boosted its position in shares of PowerFleet by 40.6% during the fourth quarter. R Squared Ltd now owns 16,073 shares of the company’s stock worth $86,000 after purchasing an additional 4,640 shares in the last quarter. 73.40% of the stock is currently owned by institutional investors and hedge funds.

PowerFleet Company Profile

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.