Powerfleet (NASDAQ:AIOT - Get Free Report)'s stock had its "outperform" rating reiterated by Barrington Research in a research note issued on Friday,Benzinga reports. They presently have a $15.00 price target on the stock. Barrington Research's target price would suggest a potential upside of 201.20% from the stock's previous close.
Several other research firms have also weighed in on AIOT. Lake Street Capital set a $8.00 price objective on shares of Powerfleet and gave the stock a "buy" rating in a research note on Tuesday, May 27th. Raymond James lowered their price target 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 research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Powerfleet has a consensus rating of "Buy" and an average price target of $10.50.
Read Our Latest Stock Analysis on AIOT
Powerfleet Stock Up 11.9%
Shares of NASDAQ AIOT traded up $0.53 during trading hours on Friday, hitting $4.98. The company had a trading volume of 3,866,375 shares, compared to its average volume of 1,577,447. Powerfleet has a 1-year low of $3.70 and a 1-year high of $8.71. The company has a current ratio of 1.21, a quick ratio of 1.02 and a debt-to-equity ratio of 0.51. The firm's 50 day moving average is $5.02 and its 200-day moving average is $5.93.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently bought and sold shares of AIOT. Inspire Investing LLC boosted its holdings in shares of Powerfleet by 4.0% during the first quarter. Inspire Investing LLC now owns 62,253 shares of the company's stock worth $342,000 after acquiring an additional 2,419 shares during the period. Strs Ohio acquired a new stake in Powerfleet during the 1st quarter worth approximately $318,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC bought a new stake in Powerfleet in the 1st quarter valued at $3,670,000. First Dallas Securities Inc. acquired a new position in Powerfleet in the 1st quarter valued at $167,000. Finally, Goldman Sachs Group Inc. increased its position in Powerfleet by 15.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,045,424 shares of the company's stock worth $5,739,000 after buying an additional 138,856 shares during the period. 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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