PowerFleet, Inc. (NASDAQ:AIOT) Receives $10.50 Consensus PT from Analysts

Shares of PowerFleet, Inc. (NASDAQ:AIOT - Get Free Report) have been given a consensus recommendation of "Buy" by the five research firms that are covering the company, Marketbeat Ratings reports. Five research analysts have rated the stock with a buy rating. The average 12-month price target among brokers that have issued a report on the stock in the last year is $10.50.

A number of research analysts have commented on the stock. Barrington Research reaffirmed an "outperform" rating and issued a $15.00 target price on shares of PowerFleet in a research report on Friday, June 13th. Wall Street Zen raised shares of PowerFleet from a "sell" rating to a "hold" rating in a research report on Saturday, June 21st. Raymond James Financial decreased their target price on shares of PowerFleet from $10.00 to $8.00 and set an "outperform" rating on the stock in a research report on Tuesday, April 29th. Finally, Lake Street Capital set a $8.00 target price on shares of PowerFleet and gave the company a "buy" rating in a research report on Tuesday, May 27th.

Institutional Trading of PowerFleet

Hedge funds have recently made changes to their positions in the business. Corebridge Financial Inc. increased its stake in shares of PowerFleet by 4.3% during the first quarter. Corebridge Financial Inc. now owns 49,009 shares of the company's stock worth $269,000 after buying an additional 2,036 shares during the period. Inspire Investing LLC grew its position in shares of PowerFleet by 4.0% during the first quarter. Inspire Investing LLC now owns 62,253 shares of the company's stock worth $342,000 after acquiring an additional 2,419 shares during the last quarter. Oppenheimer Asset Management Inc. grew its position in shares of PowerFleet by 14.7% during the first quarter. Oppenheimer Asset Management Inc. now owns 20,242 shares of the company's stock worth $111,000 after acquiring an additional 2,594 shares during the last quarter. Signaturefd LLC purchased a new position in PowerFleet in the 4th quarter valued at $25,000. Finally, Comerica Bank purchased a new position in PowerFleet in the 4th quarter valued at $42,000. Institutional investors and hedge funds own 73.40% of the company's stock.

PowerFleet Trading Up 4.5%

NASDAQ AIOT traded up $0.19 during trading hours on Wednesday, reaching $4.40. The company had a trading volume of 1,566,405 shares, compared to its average volume of 1,664,037. The stock has a 50-day moving average of $4.82 and a 200 day moving average of $5.57. PowerFleet has a 1-year low of $3.70 and a 1-year high of $8.71. 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 market capitalization of $586.83 million, a P/E ratio of -10.23 and a beta of 1.32.

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.