PowerFleet (NASDAQ:AIOT) Given Outperform Rating at Barrington Research

Key Points

• Barrington Research has reiterated an "outperform" rating on PowerFleet (NASDAQ: AIOT) with a price target of $15.00, suggesting a potential upside of 287.60% from the current share price.
• PowerFleet's average rating is currently a "Moderate Buy" with an average target price of $10.50, supported by five buy ratings and one hold rating from analysts.
• Institutional investors own 73.40% of PowerFleet's stock, indicating strong confidence in the company from major financial entities.

PowerFleet (NASDAQ:AIOT - Get Free Report)'s stock had its "outperform" rating reissued by equities research analysts at Barrington Research in a report released on Monday,Benzinga reports. They currently have a $15.00 target price on the stock. Barrington Research's target price suggests a potential upside of 222.58% from the stock's previous close.

Several other brokerages have also recently commented on AIOT. Lake Street Capital set a $8.00 price target on shares of PowerFleet and gave the stock a "buy" rating in a research report on Tuesday, May 27th. Wall Street Zen raised shares of PowerFleet from a "sell" rating to a "hold" rating in a research report on Saturday, June 21st. Finally, Raymond James Financial cut their price target on shares of PowerFleet from $10.00 to $8.00 and set an "outperform" rating on the stock in a research report on Tuesday, April 29th. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, PowerFleet presently has an average rating of "Moderate Buy" and a consensus target price of $10.50.

PowerFleet Stock Up 5.9%

AIOT traded up $0.26 during trading on Monday, hitting $4.65. The company had a trading volume of 2,881,105 shares, compared to its average volume of 1,571,101. The company has a market capitalization of $620.50 million, a PE ratio of -15.50 and a beta of 1.35. PowerFleet has a one year low of $3.70 and a one year high of $8.71. The firm's 50-day moving average price is $4.42 and its 200 day moving average price is $5.31. The company has a quick ratio of 1.00, a current ratio of 1.12 and a debt-to-equity ratio of 0.52.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Oppenheimer & Co. Inc. acquired a new position in shares of PowerFleet during the 1st quarter worth about $172,000. The Manufacturers Life Insurance Company acquired a new position in shares of PowerFleet during the 4th quarter worth about $219,000. Legal & General Group Plc acquired a new position in shares of PowerFleet during the 4th quarter worth about $58,000. Geode Capital Management LLC acquired a new position in PowerFleet in the 4th quarter valued at about $15,938,000. Finally, Bank of America Corp DE acquired a new position in PowerFleet in the 4th quarter valued at about $1,487,000. 73.40% of the stock is currently owned by institutional investors and hedge funds.

PowerFleet Company Profile

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.