PowerFleet (NASDAQ:AIOT) Given Sell (D-) Rating at Weiss Ratings

Key Points

• PowerFleet's stock received a reaffirmed "sell (D-)" rating from Weiss Ratings, indicating ongoing concerns about its performance.
• Currently, five analysts rate the stock as a Buy, while one has issued a Hold, and one assigned a Sell rating, leading to a consensus rating of "Moderate Buy" with a price target of $10.50.
• Insider buying activity includes purchases by Director Michael J. McConnell and CEO Steven Mark Towe, suggesting confidence from company leadership despite negative analyst ratings.

PowerFleet (NASDAQ:AIOT - Get Free Report)'s stock had its "sell (d-)" rating reaffirmed by investment analysts at Weiss Ratings in a research report issued to clients and investors on Friday,Weiss Ratings reports.

Several other analysts have also recently weighed in on the stock. Wall Street Zen cut shares of PowerFleet from a "hold" rating to a "sell" rating in a research note on Sunday, October 12th. Zacks Research raised shares of PowerFleet from a "strong sell" rating to a "hold" rating in a research note on Monday, October 13th. Finally, Barrington Research reissued an "outperform" rating and issued a $15.00 price target on shares of PowerFleet in a research note on Tuesday, September 23rd. Five analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $10.50.

PowerFleet Price Performance

Shares of AIOT traded up $0.16 during mid-day trading on Friday, hitting $5.45. 407,371 shares of the company were exchanged, compared to its average volume of 1,864,357. PowerFleet has a 1-year low of $3.70 and a 1-year high of $8.71. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.92 and a current ratio of 1.07. The company has a 50 day moving average of $5.05 and a 200-day moving average of $4.83. The stock has a market cap of $726.58 million, a price-to-earnings ratio of -18.15 and a beta of 1.32.

Insider Buying and Selling at PowerFleet

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of AIOT. GAMMA Investing LLC purchased a new position in PowerFleet during the 1st quarter worth $46,000. Oppenheimer Asset Management Inc. grew its position in PowerFleet by 14.7% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 20,242 shares of the company's stock worth $111,000 after purchasing an additional 2,594 shares during the last quarter. Oppenheimer & Co. Inc. purchased a new position in PowerFleet during the 1st quarter worth $172,000. Lisanti Capital Growth LLC purchased a new position in PowerFleet during the 1st quarter worth $2,260,000. Finally, Teacher Retirement System of Texas purchased a new position in PowerFleet during the 1st quarter worth $95,000. 73.40% of the stock is owned by hedge funds and other institutional investors.

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.

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