Powerfleet, Inc. (NASDAQ:AIOT - Get Free Report) gapped down before the market opened on Friday . The stock had previously closed at $5.63, but opened at $4.96. Powerfleet shares last traded at $4.80, with a volume of 1,905,759 shares trading hands.
Analyst Upgrades and Downgrades
AIOT has been the topic of a number of recent research reports. Northland Securities increased their price objective on shares of Powerfleet from $10.00 to $11.00 and gave the company an "outperform" rating in a research note on Tuesday, February 11th. Barrington Research restated an "outperform" rating and set a $15.00 price objective on shares of Powerfleet in a research note on Thursday, February 13th. Raymond James decreased their price objective on Powerfleet from $10.00 to $8.00 and set an "outperform" rating for the company in a research note on Tuesday, April 29th. Finally, Lake Street Capital boosted their price objective on shares of Powerfleet from $7.00 to $11.00 and gave the stock a "buy" rating in a research note on Tuesday, February 11th. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has a consensus rating of "Buy" and an average target price of $11.25.
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Powerfleet Trading Down 10.9%
The company has a 50 day moving average of $5.27 and a two-hundred day moving average of $6.10. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.02 and a current ratio of 1.21.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. AEGON ASSET MANAGEMENT UK Plc acquired a new stake in Powerfleet in the 4th quarter worth approximately $11,034,000. Inspire Investing LLC acquired a new stake in Powerfleet in the 4th quarter worth approximately $398,000. Hodges Capital Management Inc. acquired a new stake in Powerfleet in the 4th quarter worth approximately $10,982,000. Oppenheimer Asset Management Inc. acquired a new stake in Powerfleet in the 4th quarter worth approximately $118,000. Finally, Rice Hall James & Associates LLC acquired a new stake in Powerfleet in the 4th quarter worth approximately $2,706,000. 73.40% of the stock is currently owned by hedge funds and other institutional investors.
Powerfleet Company Profile
(
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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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