Shares of PowerFleet, Inc. (NASDAQ:AIOT - Get Free Report) gapped down prior to trading on Tuesday . The stock had previously closed at $4.98, but opened at $4.80. PowerFleet shares last traded at $4.89, with a volume of 192,041 shares.
Wall Street Analysts Forecast Growth
AIOT has been the subject of a number of recent research reports. Barrington Research reissued an "outperform" rating and set a $15.00 price objective on shares of PowerFleet in a research report on Friday, June 13th. Raymond James Financial reduced their price objective on shares of PowerFleet from $10.00 to $8.00 and set an "outperform" rating on the stock in a research report on Tuesday, April 29th. Finally, Lake Street Capital set a $8.00 target price on PowerFleet and gave the stock a "buy" rating in a research report on Tuesday, May 27th. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has a consensus rating of "Buy" and an average target price of $10.50.
Check Out Our Latest Report on PowerFleet
PowerFleet Stock Performance
The firm has a 50 day simple moving average of $5.02 and a 200-day simple moving average of $5.88. The company has a quick ratio of 1.02, a current ratio of 1.21 and a debt-to-equity ratio of 0.51.
Hedge Funds Weigh In On PowerFleet
A number of institutional investors have recently bought and sold shares of the business. Private Capital Management LLC acquired a new stake in shares of PowerFleet in the fourth quarter valued at about $45,504,000. Vanguard Group Inc. lifted its stake in PowerFleet by 3.8% during the 1st quarter. Vanguard Group Inc. now owns 6,725,504 shares of the company's stock worth $36,923,000 after acquiring an additional 248,914 shares in the last quarter. AWM Investment Company Inc. purchased a new position in PowerFleet in the 4th quarter valued at approximately $31,000,000. Ontario Teachers Pension Plan Board purchased a new stake in shares of PowerFleet during the fourth quarter worth approximately $28,543,000. Finally, Private Management Group Inc. raised its holdings in shares of PowerFleet by 8.7% in the 1st quarter. Private Management Group Inc. now owns 3,778,478 shares of the company's stock valued at $20,744,000 after purchasing an additional 303,004 shares in the last quarter. 73.40% of the stock is owned by hedge funds and other institutional investors.
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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