PowerFleet (NASDAQ:AIOT) Stock Rating Upgraded by Wall Street Zen

Key Points

• Wall Street Zen upgraded PowerFleet from a “sell” to a “hold” rating, adding to a recent series of mixed-but-improving analyst views on the stock.
• PowerFleet’s shares opened at $3.41, with the company carrying a market cap of about $457 million and trading well below its 52-week high of $6.07.
• The company recently reported Q4 EPS of $0.02, missing estimates, though revenue of $113.49 million came in slightly above expectations; analysts still expect a full-year loss.

PowerFleet (NASDAQ:AIOT - Get Free Report) was upgraded by equities research analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a research note issued on Saturday.

AIOT has been the topic of a number of other reports. Weiss Ratings raised shares of PowerFleet from a "sell (d-)" rating to a "hold (c-)" rating in a research report on Tuesday, February 10th. Barrington Research reissued an "outperform" rating and issued a $15.00 price objective on shares of PowerFleet in a research report on Friday, February 6th. Three investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $11.50.

PowerFleet Stock Performance

NASDAQ:AIOT opened at $3.41 on Friday. The company has a fifty day simple moving average of $3.22 and a two-hundred day simple moving average of $4.37. The company has a market cap of $457.45 million, a price-to-earnings ratio of -14.83 and a beta of 1.38. The company has a quick ratio of 0.96, a current ratio of 1.09 and a debt-to-equity ratio of 0.48. PowerFleet has a 52 week low of $2.78 and a 52 week high of $6.07.

PowerFleet (NASDAQ:AIOT - Get Free Report) last announced its quarterly earnings data on Monday, February 9th. The company reported $0.02 EPS for the quarter, missing analysts' consensus estimates of $0.04 by ($0.02). PowerFleet had a negative net margin of 7.00% and a negative return on equity of 5.23%. The firm had revenue of $113.49 million during the quarter, compared to analysts' expectations of $111.69 million. As a group, equities analysts anticipate that PowerFleet will post -0.13 earnings per share for the current fiscal year.

Institutional Trading of PowerFleet

Institutional investors have recently added to or reduced their stakes in the company. Pinnacle Associates Ltd. boosted its stake in PowerFleet by 635.7% in the 3rd quarter. Pinnacle Associates Ltd. now owns 1,398,305 shares of the company's stock valued at $7,327,000 after purchasing an additional 1,208,252 shares during the period. Private Management Group Inc. raised its holdings in PowerFleet by 6.6% in the 3rd quarter. Private Management Group Inc. now owns 5,208,278 shares of the company's stock valued at $27,291,000 after acquiring an additional 324,127 shares in the last quarter. Royce & Associates LP raised its holdings in PowerFleet by 10.4% in the 3rd quarter. Royce & Associates LP now owns 4,311,875 shares of the company's stock valued at $22,594,000 after acquiring an additional 404,540 shares in the last quarter. Bastion Asset Management Inc. acquired a new position in PowerFleet in the 3rd quarter valued at $4,776,000. Finally, Ionic Capital Management LLC raised its holdings in PowerFleet by 96.5% in the 3rd quarter. Ionic Capital Management LLC now owns 354,977 shares of the company's stock valued at $1,860,000 after acquiring an additional 174,300 shares in the last quarter. 73.40% of the stock is currently owned by institutional investors.

PowerFleet Company Profile

PowerFleet, Inc NASDAQ: AIOT develops and delivers Internet of Things (IoT)–based telematics and asset-tracking solutions designed to help businesses monitor, manage and optimize fleets of vehicles and industrial equipment. Its core offerings include wireless sensors, GPS tracking devices and cloud-hosted software platforms that provide real-time visibility into vehicle whereabouts, usage patterns, fuel consumption and maintenance needs. The company's systems also support regulatory compliance and safety monitoring, enabling customers to reduce operational costs, minimize theft and improve overall asset utilization.

The company's hardware portfolio features RFID readers, active and passive tags, onboard diagnostics (OBD) adapters and temperature or motion sensors that can be deployed on trucks, trailers, forklifts, containers and other high-value assets.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.