PowerFleet, Inc. (NASDAQ:AIOT) Receives Average Rating of “Moderate Buy” from Brokerages

Shares of PowerFleet, Inc. (NASDAQ:AIOT) have received a consensus recommendation of “Moderate Buy” from the six brokerages that are currently covering the stock, MarketBeat Ratings reports. Two investment analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $10.3333.

A number of equities research analysts have recently commented on the company. Wall Street Zen upgraded PowerFleet from a “sell” rating to a “hold” rating in a research report on Saturday, December 13th. Barrington Research reaffirmed an “outperform” rating and set a $15.00 target price on shares of PowerFleet in a research report on Friday, February 6th. Finally, Weiss Ratings raised PowerFleet from a “sell (d-)” rating to a “hold (c-)” rating in a report on Tuesday, February 10th.

PowerFleet Trading Down 4.8%

PowerFleet stock opened at $2.79 on Monday. PowerFleet has a 12-month low of $2.78 and a 12-month high of $6.38. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.09 and a quick ratio of 0.96. The stock has a market capitalization of $374.28 million, a PE ratio of -12.13 and a beta of 1.37. The firm has a 50 day simple moving average of $4.23 and a 200-day simple moving average of $4.83.

PowerFleet (NASDAQ:AIOT) last announced its earnings results on Monday, February 9th. The company reported $0.02 EPS for the quarter, missing the consensus estimate of $0.04 by ($0.02). The firm had revenue of $113.49 million for the quarter, compared to the consensus estimate of $111.69 million. PowerFleet had a negative return on equity of 5.23% and a negative net margin of 7.00%. As a group, equities research analysts expect that PowerFleet will post -0.32 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in AIOT. Kopion Asset Management LLC raised its holdings in shares of PowerFleet by 101.7% during the third quarter. Kopion Asset Management LLC now owns 1,553,700 shares of the company’s stock valued at $8,141,000 after acquiring an additional 783,501 shares during the period. Dynamic Technology Lab Private Ltd boosted its stake in PowerFleet by 135.4% in the 2nd quarter. Dynamic Technology Lab Private Ltd now owns 107,776 shares of the company’s stock worth $465,000 after purchasing an additional 61,992 shares during the period. Pinnacle Associates Ltd. grew its position in PowerFleet by 635.7% during the 3rd quarter. Pinnacle Associates Ltd. now owns 1,398,305 shares of the company’s stock worth $7,327,000 after purchasing an additional 1,208,252 shares in the last quarter. Geode Capital Management LLC grew its position in PowerFleet by 13.3% during the 2nd quarter. Geode Capital Management LLC now owns 2,932,054 shares of the company’s stock worth $12,639,000 after purchasing an additional 343,580 shares in the last quarter. Finally, Private Management Group Inc. raised its stake in PowerFleet by 6.6% during the 3rd quarter. Private Management Group Inc. now owns 5,208,278 shares of the company’s stock valued at $27,291,000 after purchasing an additional 324,127 shares during the period. 73.40% of the stock is currently owned by institutional investors and hedge funds.

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.