PowerFleet, Inc. (NASDAQ:AIOT) Given Consensus Recommendation of “Moderate Buy” by Brokerages

PowerFleet, Inc. (NASDAQ:AIOT) has received an average rating of “Moderate Buy” from the six brokerages that are covering the firm, MarketBeat reports. Two equities research analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $10.3333.

A number of research analysts recently weighed in on AIOT shares. Weiss Ratings raised PowerFleet from a “sell (d-)” rating to a “hold (c-)” rating in a research note on Tuesday, February 10th. Barrington Research reiterated an “outperform” rating and set a $15.00 price target on shares of PowerFleet in a report on Friday, February 6th. Wall Street Zen raised shares of PowerFleet from a “sell” rating to a “hold” rating in a research report on Saturday, December 13th. Finally, William Blair reaffirmed an “outperform” rating on shares of PowerFleet in a report on Tuesday, November 11th.

Hedge Funds Weigh In On PowerFleet

A number of institutional investors have recently made changes to their positions in the business. State of Alaska Department of Revenue acquired a new stake in PowerFleet in the 3rd quarter valued at approximately $31,000. Hurley Capital LLC acquired a new stake in shares of PowerFleet in the fourth quarter worth $32,000. CWM LLC grew its stake in shares of PowerFleet by 784.9% in the third quarter. CWM LLC now owns 6,203 shares of the company’s stock worth $33,000 after acquiring an additional 5,502 shares during the last quarter. Kemnay Advisory Services Inc. bought a new position in PowerFleet during the fourth quarter worth $48,000. Finally, BNP Paribas Financial Markets raised its stake in PowerFleet by 100.9% during the 2nd quarter. BNP Paribas Financial Markets now owns 11,756 shares of the company’s stock valued at $51,000 after purchasing an additional 5,904 shares during the last quarter. 73.40% of the stock is currently owned by institutional investors.

PowerFleet Stock Up 2.2%

AIOT stock opened at $3.70 on Thursday. The firm has a market cap of $496.36 million, a PE ratio of -16.09 and a beta of 1.33. PowerFleet has a 1 year low of $3.43 and a 1 year high of $7.59. The company has a fifty day simple moving average of $4.96 and a 200 day simple moving average of $4.98. The company has a current ratio of 1.09, a quick ratio of 0.96 and a debt-to-equity ratio of 0.48.

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 the consensus estimate of $111.69 million. PowerFleet had a negative net margin of 7.00% and a negative return on equity of 5.23%. Sell-side 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.