PowerFleet (NASDAQ:AIOT - Get Free Report) posted its quarterly earnings results on Monday. The company reported ($0.43) earnings per share for the quarter, missing analysts' consensus estimates of ($0.02) by ($0.41), Zacks reports. The business had revenue of $103.64 million for the quarter, compared to the consensus estimate of $103.82 million. PowerFleet had a negative return on equity of 11.77% and a negative net margin of 14.06%.
PowerFleet Stock Up 1.5%
Shares of AIOT stock traded up $0.07 during trading hours on Thursday, hitting $4.73. 2,168,320 shares of the company were exchanged, compared to its average volume of 1,585,582. The business has a 50 day moving average of $5.01 and a two-hundred day moving average of $5.90. 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 52 week low of $3.70 and a 52 week high of $8.71. The company has a market capitalization of $626.77 million, a PE ratio of -11.00 and a beta of 1.35.
Wall Street Analyst Weigh In
A number of research firms recently weighed in on AIOT. Lake Street Capital set a $8.00 price target on shares of PowerFleet and gave the stock a "buy" rating in a research note on Tuesday, May 27th. Raymond James Financial dropped their price target on shares of PowerFleet from $10.00 to $8.00 and set an "outperform" rating for the company in a research note on Tuesday, April 29th. Finally, Barrington Research reissued an "outperform" rating and set a $15.00 price target on shares of PowerFleet in a research note on Friday, June 13th. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, PowerFleet presently has an average rating of "Buy" and an average target price of $10.50.
View Our Latest Analysis on AIOT
Institutional Investors Weigh In On PowerFleet
Several large investors have recently made changes to their positions in AIOT. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC bought a new stake in shares of PowerFleet during the first quarter worth $3,670,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in PowerFleet by 275.7% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 203,211 shares of the company's stock worth $1,116,000 after purchasing an additional 149,116 shares during the last quarter. Goldman Sachs Group Inc. boosted its holdings in PowerFleet by 15.3% during the first quarter. Goldman Sachs Group Inc. now owns 1,045,424 shares of the company's stock worth $5,739,000 after purchasing an additional 138,856 shares during the last quarter. Royal Bank of Canada boosted its holdings in PowerFleet by 198.0% during the first quarter. Royal Bank of Canada now owns 91,365 shares of the company's stock worth $501,000 after purchasing an additional 60,705 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd acquired a new position in PowerFleet during the first quarter worth $251,000. Institutional investors own 73.40% of the company's stock.
About PowerFleet
(
Get Free Report)
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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