PowerFleet (NASDAQ:AIOT) Upgraded to "Hold" at Wall Street Zen

Wall Street Zen upgraded shares of PowerFleet (NASDAQ:AIOT - Free Report) from a sell rating to a hold rating in a report published on Saturday.

A number of other analysts also recently issued reports on the company. Raymond James Financial reduced their price objective on PowerFleet from $10.00 to $8.00 and set an "outperform" rating on the stock in a research note on Tuesday, April 29th. Barrington Research restated an "outperform" rating and issued a $15.00 price target on shares of PowerFleet in a research report on Friday, June 13th. Finally, Lake Street Capital set a $8.00 price target on shares of PowerFleet and gave the company a "buy" rating in a research note on Tuesday, May 27th. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, PowerFleet presently has an average rating of "Moderate Buy" and an average price target of $10.50.

PowerFleet Price Performance

Shares of PowerFleet stock traded up $0.09 during trading on Friday, reaching $4.57. 1,890,221 shares of the stock traded hands, compared to its average volume of 1,594,606. PowerFleet has a 52-week low of $3.70 and a 52-week high of $8.71. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.21 and a quick ratio of 1.02. The business has a fifty day simple moving average of $5.00 and a two-hundred day simple moving average of $5.83. The company has a market capitalization of $605.57 million, a price-to-earnings ratio of -10.63 and a beta of 1.35.

Hedge Funds Weigh In On PowerFleet

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Oppenheimer Asset Management Inc. bought a new stake in PowerFleet in the fourth quarter worth $118,000. The Manufacturers Life Insurance Company purchased a new stake in shares of PowerFleet in the fourth quarter valued at $219,000. Legal & General Group Plc bought a new stake in shares of PowerFleet in the 4th quarter worth about $58,000. Vanguard Group Inc. purchased a new position in shares of PowerFleet during the 4th quarter worth about $43,134,000. Finally, Geode Capital Management LLC purchased a new position in shares of PowerFleet during the 4th quarter worth about $15,938,000. Hedge funds and other institutional investors own 73.40% of the company's stock.

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.