Barrington Research Reaffirms "Outperform" Rating for Powerfleet (NASDAQ:AIOT)

Powerfleet (NASDAQ:AIOT - Get Free Report)'s stock had its "outperform" rating reaffirmed by Barrington Research in a research report issued to clients and investors on Friday,Benzinga reports. They presently have a $15.00 target price on the stock. Barrington Research's price objective indicates a potential upside of 226.80% from the stock's previous close.

A number of other equities research analysts have also recently commented on the company. Lake Street Capital raised their target price on Powerfleet from $7.00 to $11.00 and gave the company a "buy" rating in a research report on Tuesday, February 11th. Raymond James dropped their price objective on Powerfleet from $10.00 to $8.00 and set an "outperform" rating on the stock in a report on Tuesday, April 29th. Finally, Northland Securities boosted their price objective on Powerfleet from $10.00 to $11.00 and gave the company an "outperform" rating in a research report on Tuesday, February 11th. Five research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has an average rating of "Buy" and an average price target of $10.50.

Powerfleet Stock Down 5.6%

NASDAQ AIOT traded down $0.27 during mid-day trading on Friday, reaching $4.59. 2,073,615 shares of the stock were exchanged, compared to its average volume of 1,533,215. 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 business's 50 day moving average is $5.21 and its 200-day moving average is $6.10. Powerfleet has a 1 year low of $3.70 and a 1 year high of $8.71.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of AIOT. Private Capital Management LLC acquired a new position in shares of Powerfleet during the fourth quarter valued at approximately $45,504,000. Vanguard Group Inc. acquired a new stake in shares of Powerfleet in the fourth quarter worth approximately $43,134,000. AWM Investment Company Inc. purchased a new stake in shares of Powerfleet during the fourth quarter worth approximately $31,000,000. Ontario Teachers Pension Plan Board acquired a new position in Powerfleet in the 4th quarter valued at $28,543,000. Finally, 325 Capital LLC purchased a new position in Powerfleet in the 4th quarter valued at $24,737,000. 73.40% of the stock is owned by hedge funds and other institutional investors.

About Powerfleet

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.