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

Shares of PowerFleet, Inc. (NASDAQ:AIOT - Get Free Report) have earned a consensus recommendation of "Buy" from the five analysts that are currently covering the firm, MarketBeat reports. Five equities research analysts have rated the stock with a buy recommendation. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $10.50.

Several research firms have recently commented on AIOT. 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. Lake Street Capital set a $8.00 price objective on PowerFleet and gave the company a "buy" rating in a report on Tuesday, May 27th. Raymond James Financial lowered their price objective 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, Wall Street Zen raised PowerFleet from a "sell" rating to a "hold" rating in a report on Saturday.

Hedge Funds Weigh In On PowerFleet

Hedge funds have recently added to or reduced their stakes in the stock. Private Capital Management LLC bought a new stake in shares of PowerFleet during the 4th quarter valued at $45,504,000. Vanguard Group Inc. acquired a new position in PowerFleet in the fourth quarter valued at about $43,134,000. AWM Investment Company Inc. bought a new stake in PowerFleet during the fourth quarter worth about $31,000,000. Ontario Teachers Pension Plan Board bought a new stake in PowerFleet during the fourth quarter worth about $28,543,000. Finally, 325 Capital LLC acquired a new stake in PowerFleet during the fourth quarter worth about $24,737,000. Institutional investors own 73.40% of the company's stock.

PowerFleet Stock Performance

Shares of AIOT traded down $0.19 during mid-day trading on Friday, reaching $4.54. The company's stock had a trading volume of 3,256,352 shares, compared to its average volume of 1,592,430. The company has a current ratio of 1.21, a quick ratio of 1.02 and a debt-to-equity ratio of 0.51. PowerFleet has a 1-year low of $3.70 and a 1-year high of $8.71. The business has a 50-day simple moving average of $5.01 and a two-hundred day simple moving average of $5.86. The stock has a market cap of $601.60 million, a P/E ratio of -10.56 and a beta of 1.35.

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.