PowerFleet, Inc. (NASDAQ:AIOT) Given Average Recommendation of "Buy" by Analysts

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 assigned an average recommendation of "Buy" from the five research firms that are currently covering the stock, Marketbeat.com reports. Five analysts have rated the stock with a buy recommendation. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $10.50.

A number of brokerages have recently weighed in on AIOT. Barrington Research reiterated an "outperform" rating and set a $15.00 target price on shares of PowerFleet in a research note on Monday. Lake Street Capital set a $8.00 target price on PowerFleet and gave the stock a "buy" rating in a research note on Tuesday, May 27th. Raymond James Financial lowered their target price on PowerFleet from $10.00 to $8.00 and set an "outperform" rating on the stock in a research note on Tuesday, April 29th. Finally, Wall Street Zen upgraded PowerFleet from a "sell" rating to a "hold" rating in a research note on Saturday, June 21st.

PowerFleet Stock Performance

NASDAQ:AIOT traded up $0.26 on Friday, hitting $4.65. The company's stock had a trading volume of 2,881,105 shares, compared to its average volume of 1,971,509. The company has a current ratio of 1.12, a quick ratio of 1.00 and a debt-to-equity ratio of 0.52. The stock has a fifty day moving average of $4.42 and a two-hundred day moving average of $5.31. The firm has a market capitalization of $620.51 million, a P/E ratio of -10.81 and a beta of 1.35. PowerFleet has a one year low of $3.70 and a one year high of $8.71.

Institutional Investors Weigh In On PowerFleet

Large investors have recently modified their holdings of the business. NBC Securities Inc. acquired a new stake in shares of PowerFleet in the 1st quarter valued at $36,000. Comerica Bank acquired a new stake in shares of PowerFleet in the 4th quarter valued at $42,000. California State Teachers Retirement System acquired a new stake in shares of PowerFleet in the 4th quarter valued at $46,000. GAMMA Investing LLC acquired a new stake in shares of PowerFleet in the 1st quarter valued at $46,000. Finally, Spire Wealth Management boosted its holdings in shares of PowerFleet by 39.6% in the 2nd 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. Institutional investors and hedge funds own 73.40% of the company's stock.

About PowerFleet

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.