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

Key Points

• PowerFleet, Inc. (NASDAQ:AIOT) has received an average recommendation of "Moderate Buy" from analysts, with one sell rating and five buy ratings reported.
• The average twelve-month target price for PowerFleet stock is $10.50, despite current trading at $4.53 and the recent ratings from various research analysts.
• Insider trading activity shows CEO Steven Mark Towe and Director Michael J. Mcconnell increasing their stakes in the company, indicating confidence in its future performance.

Shares of PowerFleet, Inc. (NASDAQ:AIOT - Get Free Report) have been given an average rating of "Moderate Buy" by the six ratings firms that are covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating and five have given a buy rating to the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $10.50.

AIOT has been the topic of a number of analyst reports. Wall Street Zen lowered shares of PowerFleet from a "hold" rating to a "sell" rating in a report on Saturday, August 16th. Barrington Research restated an "outperform" rating and issued a $15.00 target price on shares of PowerFleet in a report on Friday, August 22nd. Zacks Research downgraded shares of PowerFleet from a "hold" rating to a "strong sell" rating in a research report on Friday, August 15th. Finally, Lake Street Capital set a $8.00 price objective on shares of PowerFleet and gave the stock a "buy" rating in a research report on Tuesday, May 27th.

Insider Transactions at PowerFleet

In other news, Director Michael J. Mcconnell acquired 10,000 shares of PowerFleet stock in a transaction on Monday, August 18th. The stock was acquired at an average cost of $4.64 per share, with a total value of $46,400.00. Following the transaction, the director owned 28,028 shares of the company's stock, valued at approximately $130,049.92. This trade represents a 55.47% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Steven Mark Towe bought 23,157 shares of PowerFleet stock in a transaction dated Thursday, August 14th. The shares were bought at an average cost of $4.42 per share, with a total value of $102,353.94. Following the completion of the transaction, the chief executive officer directly owned 2,457,923 shares in the company, valued at approximately $10,864,019.66. This trade represents a 0.95% increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 6.30% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of AIOT. Squarepoint Ops LLC lifted its stake in PowerFleet by 39.4% in the 2nd quarter. Squarepoint Ops LLC now owns 494,646 shares of the company's stock worth $2,132,000 after purchasing an additional 139,847 shares in the last quarter. Wasatch Advisors LP purchased a new stake in PowerFleet in the 2nd quarter worth approximately $6,426,000. Tidal Investments LLC lifted its stake in PowerFleet by 23.5% in the 2nd quarter. Tidal Investments LLC now owns 120,973 shares of the company's stock worth $521,000 after purchasing an additional 22,998 shares in the last quarter. Oxford Asset Management LLP purchased a new stake in PowerFleet in the 2nd quarter worth approximately $81,000. Finally, BNP Paribas Financial Markets lifted its stake in PowerFleet by 100.9% in the 2nd quarter. BNP Paribas Financial Markets now owns 11,756 shares of the company's stock worth $51,000 after purchasing an additional 5,904 shares in the last quarter. 73.40% of the stock is owned by institutional investors.

PowerFleet Stock Up 12.3%

Shares of AIOT traded up $0.55 on Thursday, reaching $5.02. The company's stock had a trading volume of 3,398,299 shares, compared to its average volume of 1,704,639. The company has a current ratio of 1.07, a quick ratio of 0.92 and a debt-to-equity ratio of 0.51. PowerFleet has a twelve month low of $3.70 and a twelve month high of $8.71. The stock has a market capitalization of $669.88 million, a PE ratio of -16.73 and a beta of 1.28. The firm has a fifty day moving average of $4.40 and a 200-day moving average of $5.03.

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.