Powerfleet, Inc. (NASDAQ:AIOT - Get Free Report) shares gapped up before the market opened on Monday . The stock had previously closed at $4.45, but opened at $4.85. Powerfleet shares last traded at $4.74, with a volume of 1,042,776 shares traded.
Analyst Upgrades and Downgrades
Several equities research analysts recently commented on AIOT shares. Barrington Research reaffirmed an "outperform" rating and issued a $15.00 price target on shares of Powerfleet in a report on Friday. Lake Street Capital set a $8.00 price objective on Powerfleet and gave the company a "buy" rating in a report on Tuesday, May 27th. Finally, Raymond James reduced their target price on Powerfleet from $10.00 to $8.00 and set an "outperform" rating on the stock in a research report on Tuesday, April 29th. Five investment analysts have rated the stock with a buy rating, According to MarketBeat, Powerfleet currently has an average rating of "Buy" and a consensus target price of $10.50.
Check Out Our Latest Analysis on Powerfleet
Powerfleet Stock Up 11.8%
The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.02 and a current ratio of 1.21. The stock's 50-day simple moving average is $5.02 and its 200 day simple moving average is $5.93.
Institutional Trading of Powerfleet
Large investors have recently made changes to their positions in the stock. Signaturefd LLC purchased a new position in Powerfleet in the fourth quarter valued at approximately $25,000. NBC Securities Inc. acquired a new position in shares of Powerfleet during the 1st quarter valued at $36,000. Comerica Bank purchased a new stake in Powerfleet during the 4th quarter worth $42,000. California State Teachers Retirement System acquired a new stake in Powerfleet in the 4th quarter valued at $46,000. Finally, GAMMA Investing LLC purchased a new position in Powerfleet in the first quarter valued at about $46,000. Institutional investors and hedge funds 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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