Lake Street Capital set a $8.00 target price on Powerfleet (NASDAQ:AIOT - Free Report) in a research report released on Tuesday, MarketBeat Ratings reports. The brokerage currently has a buy rating on the stock.
Several other equities analysts have also commented on the company. Barrington Research reaffirmed an "outperform" rating and set a $15.00 target price on shares of Powerfleet in a report on Friday, May 23rd. Raymond James dropped their target price on Powerfleet from $10.00 to $8.00 and set an "outperform" rating on the stock in a research report on Tuesday, April 29th. Finally, Northland Securities boosted their price target on shares of Powerfleet from $10.00 to $11.00 and gave the company an "outperform" rating in a report on Tuesday, February 11th. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has an average rating of "Buy" and an average target price of $10.50.
Read Our Latest Stock Analysis on Powerfleet
Powerfleet Trading Up 2.4%
Shares of Powerfleet stock traded up $0.11 during trading hours on Tuesday, reaching $4.70. The company's stock had a trading volume of 2,513,218 shares, compared to its average volume of 1,537,496. Powerfleet has a one year low of $3.70 and a one year high of $8.71. The company's 50 day simple moving average is $5.16 and its 200 day simple moving average is $6.08. The company has a current ratio of 1.21, a quick ratio of 1.02 and a debt-to-equity ratio of 0.51.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently modified their holdings of AIOT. Private Capital Management LLC bought a new position in Powerfleet in the 4th quarter valued at about $45,504,000. Vanguard Group Inc. bought a new position in shares of Powerfleet in the fourth quarter valued at approximately $43,134,000. AWM Investment Company Inc. acquired a new position in shares of Powerfleet during the fourth quarter valued at approximately $31,000,000. Ontario Teachers Pension Plan Board acquired a new position in shares of Powerfleet during the fourth quarter valued at approximately $28,543,000. Finally, 325 Capital LLC bought a new stake in Powerfleet during the fourth quarter worth approximately $24,737,000. Institutional investors own 73.40% of the company's stock.
About Powerfleet
(
Get Free Report)
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.
Featured Stories
Before you consider Powerfleet, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Powerfleet wasn't on the list.
While Powerfleet currently has a Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
With the proliferation of data centers and electric vehicles, the electric grid will only get more strained. Download this report to learn how energy stocks can play a role in your portfolio as the global demand for energy continues to grow.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
