PowerFleet (NASDAQ:AIOT - Get Free Report) was upgraded by Wall Street Zen from a "sell" rating to a "hold" rating in a report released on Saturday.
A number of other equities research analysts have also issued reports on the company. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of PowerFleet in a research report on Saturday, September 27th. Barrington Research reaffirmed an "outperform" rating and set a $15.00 price target on shares of PowerFleet in a research report on Tuesday, September 23rd. Finally, Zacks Research downgraded PowerFleet from a "hold" rating to a "strong sell" rating in a research note on Friday, August 15th. Five investment analysts have rated the stock with a Buy rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $10.50.
Read Our Latest Report on PowerFleet
PowerFleet Stock Performance
NASDAQ AIOT opened at $5.09 on Friday. The stock has a market cap of $679.21 million, a PE ratio of -16.97 and a beta of 1.32. The company has a current ratio of 1.07, a quick ratio of 0.92 and a debt-to-equity ratio of 0.51. PowerFleet has a twelve month low of $3.70 and a twelve month high of $8.71. The stock has a fifty day simple moving average of $4.73 and a 200-day simple moving average of $4.85.
Insider Activity at PowerFleet
In other news, Director Michael J. Mcconnell acquired 10,000 shares of the business's stock in a transaction on Monday, August 18th. The shares were purchased at an average price of $4.64 per share, for a total transaction of $46,400.00. Following the completion of the purchase, the director directly owned 28,028 shares of the company's stock, valued at $130,049.92. This represents a 55.47% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Steven Mark Towe acquired 23,157 shares of the business's stock in a transaction on Thursday, August 14th. The shares were purchased at an average price of $4.42 per share, for a total transaction of $102,353.94. Following the purchase, the chief executive officer directly owned 2,457,923 shares of the company's stock, valued at $10,864,019.66. This represents a 0.95% increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 6.30% of the company's stock.
Institutional Trading of PowerFleet
Large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted 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 valued at $36,923,000 after purchasing an additional 248,914 shares in the last quarter. Voss Capital LP lifted its holdings in shares of PowerFleet by 104.3% in the second quarter. Voss Capital LP now owns 5,559,491 shares of the company's stock valued at $23,961,000 after purchasing an additional 2,838,900 shares in the last quarter. Private Management Group Inc. lifted its holdings in shares of PowerFleet by 29.3% in the second quarter. Private Management Group Inc. now owns 4,884,151 shares of the company's stock valued at $21,051,000 after purchasing an additional 1,105,673 shares in the last quarter. CenterBook Partners LP lifted its holdings in shares of PowerFleet by 40.4% in the second quarter. CenterBook Partners LP now owns 4,040,568 shares of the company's stock valued at $17,415,000 after purchasing an additional 1,162,742 shares in the last quarter. Finally, Royce & Associates LP lifted its holdings in shares of PowerFleet by 1.3% in the first quarter. Royce & Associates LP now owns 3,724,995 shares of the company's stock valued at $20,450,000 after purchasing an additional 48,240 shares in the last quarter. 73.40% of the stock is currently owned by institutional investors and hedge funds.
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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