PowerFleet, Inc. (NASDAQ:AIOT) Receives Consensus Rating of "Buy" from Brokerages

Key Points

• PowerFleet, Inc. has received an average consensus rating of "Buy" from five analysts, with a 12-month price target of $10.50.
• Recent changes in institutional trading show that 73.40% of the stock is owned by institutional investors, indicating strong support from large investors.
• As of the latest trading, PowerFleet's stock was down 2.5% and is currently valued at $3.87, with a market cap of around $516.41 million.

PowerFleet, Inc. (NASDAQ:AIOT - Get Free Report) has been given a consensus recommendation of "Buy" by the five ratings firms that are currently covering the stock, Marketbeat reports. Five research analysts have rated the stock with a buy rating. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $10.50.

Several brokerages have recently issued reports on AIOT. Wall Street Zen raised PowerFleet from a "sell" rating to a "hold" rating in a research report on Saturday, June 21st. Barrington Research reissued an "outperform" rating and issued a $15.00 target price on shares of PowerFleet in a research report on Monday. Raymond James Financial reduced their price objective on PowerFleet from $10.00 to $8.00 and set an "outperform" rating for the company in a research report on Tuesday, April 29th. Finally, Lake Street Capital set a $8.00 price objective on PowerFleet and gave the company a "buy" rating in a research report on Tuesday, May 27th.

PowerFleet Stock Down 2.8%

Shares of NASDAQ:AIOT traded down $0.12 during trading on Friday, hitting $4.38. The stock had a trading volume of 823,921 shares, compared to its average volume of 1,967,108. PowerFleet has a 12 month low of $3.70 and a 12 month high of $8.71. The company has a market capitalization of $583.93 million, a PE ratio of -14.62 and a beta of 1.35. The firm's fifty day moving average is $4.41 and its 200 day moving average is $5.30. The company has a quick ratio of 1.00, a current ratio of 1.07 and a debt-to-equity ratio of 0.51.

Institutional Investors Weigh In On PowerFleet

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Private Capital Management LLC bought a new stake in shares of PowerFleet in the fourth quarter worth about $45,504,000. Vanguard Group Inc. increased its stake in PowerFleet by 3.8% during the first quarter. Vanguard Group Inc. now owns 6,725,504 shares of the company's stock worth $36,923,000 after acquiring an additional 248,914 shares during the last quarter. Voss Capital LP increased its stake in PowerFleet by 104.3% during the second quarter. Voss Capital LP now owns 5,559,491 shares of the company's stock worth $23,961,000 after acquiring an additional 2,838,900 shares during the last quarter. Private Management Group Inc. boosted its position in shares of PowerFleet by 29.3% during the second quarter. Private Management Group Inc. now owns 4,884,151 shares of the company's stock valued at $21,051,000 after buying an additional 1,105,673 shares during the period. Finally, AWM Investment Company Inc. purchased a new stake in shares of PowerFleet in the fourth quarter valued at approximately $31,000,000. 73.40% of the stock is owned by institutional investors.

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.