Shares of PowerFleet, Inc. (NASDAQ:AIOT - Get Free Report) 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 trading hands.
Wall Street Analysts Forecast Growth
AIOT has been the subject of a number of recent research reports. Lake Street Capital set a $8.00 price objective on PowerFleet and gave the company a "buy" rating in a research note on Tuesday, May 27th. Barrington Research restated an "outperform" rating and set a $15.00 price target on shares of PowerFleet in a report on Friday, June 13th. Finally, Raymond James Financial dropped their price target on shares of PowerFleet from $10.00 to $8.00 and set an "outperform" rating on the stock in a research note on Tuesday, April 29th. Five equities 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 price target of $10.50.
Check Out Our Latest Research Report on PowerFleet
PowerFleet Trading Up 1.5%
The firm has a 50-day moving average of $5.01 and a 200-day moving average of $5.90. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.21 and a quick ratio of 1.02.
Institutional Investors Weigh In On PowerFleet
Large investors have recently bought and sold shares of the business. Rhumbline Advisers bought a new position in PowerFleet during the 4th quarter valued at about $915,000. Bfsg LLC purchased a new position in shares of PowerFleet during the fourth quarter valued at approximately $178,000. Rice Hall James & Associates LLC bought a new position in PowerFleet during the fourth quarter valued at approximately $2,706,000. New York State Common Retirement Fund bought a new position in PowerFleet during the fourth quarter valued at approximately $113,000. Finally, Private Advisor Group LLC purchased a new stake in PowerFleet in the fourth quarter worth approximately $68,000. 73.40% of the stock is currently owned by 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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