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

PowerFleet, Inc. (NASDAQ:AIOT - Get Free Report) has received an average recommendation of "Buy" from the five brokerages that are covering the company, Marketbeat reports. Five investment analysts have rated the stock with a buy recommendation. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $10.50.

AIOT has been the subject of a number of research reports. Lake Street Capital set a $8.00 target price on shares of PowerFleet and gave the company a "buy" rating in a research note on Tuesday, May 27th. Raymond James Financial cut their price target on shares of PowerFleet from $10.00 to $8.00 and set an "outperform" rating on the stock in a report on Tuesday, April 29th. Wall Street Zen upgraded shares of PowerFleet from a "sell" rating to a "hold" rating in a report on Saturday, June 21st. Finally, Barrington Research restated an "outperform" rating and set a $15.00 price target on shares of PowerFleet in a report on Friday, June 13th.

PowerFleet Price Performance

AIOT stock traded down $0.11 on Wednesday, hitting $4.42. 963,139 shares of the company's stock traded hands, compared to its average volume of 1,667,830. The stock has a market cap of $589.50 million, a price-to-earnings ratio of -10.28 and a beta of 1.32. 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 fifty day moving average of $4.77 and a 200-day moving average of $5.53.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of AIOT. Signaturefd LLC bought a new stake in shares of PowerFleet in the fourth quarter valued at about $25,000. NBC Securities Inc. bought a new stake in shares of PowerFleet in the first quarter valued at about $36,000. Comerica Bank bought a new stake in shares of PowerFleet in the fourth quarter valued at about $42,000. California State Teachers Retirement System bought a new stake in shares of PowerFleet in the fourth quarter valued at about $46,000. Finally, GAMMA Investing LLC bought a new stake in shares of PowerFleet in the first quarter valued at about $46,000. Institutional investors own 73.40% of the company's stock.

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.