PowerFleet (NASDAQ:AIOT) Share Price Crosses Above 50-Day Moving Average - Time to Sell?

Key Points

• PowerFleet shares rose 5.9%, trading at $2.86 after crossing above their 50-day moving average of $2.82, though they remain below the 200-day average of $3.56.
• Analyst sentiment is mixed: the stock has an overall “Hold” rating and a consensus price target of $7.40, while recent reports included both price targets of $7–$10 and downgrades to “Sell” or “Market Perform.”
• PowerFleet beat quarterly earnings expectations with a loss of $0.01 per share versus an expected loss of $0.02, but revenue fell short of estimates; institutional investors own 73.4% of the company.

PowerFleet, Inc. (NASDAQ:AIOT - Get Free Report) shares crossed above its 50-day moving average during trading on Thursday. The stock has a 50-day moving average of $2.82 and traded as high as $2.88. PowerFleet shares last traded at $2.86, with a volume of 1,720,696 shares traded.

Analyst Upgrades and Downgrades

AIOT has been the topic of several analyst reports. Weiss Ratings reiterated a "sell (d-)" rating on shares of PowerFleet in a report on Friday, September 11th. Northland Securities set a $7.00 price objective on shares of PowerFleet in a research note on Tuesday, August 11th. Barrington Research set a $10.00 price objective on shares of PowerFleet in a report on Monday, August 10th. Wall Street Zen downgraded shares of PowerFleet from a "hold" rating to a "sell" rating in a research report on Saturday, August 15th. Finally, Raymond James Financial downgraded shares of PowerFleet from an "outperform" rating to a "market perform" rating in a research report on Tuesday, August 11th. Three investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, PowerFleet presently has an average rating of "Hold" and a consensus price target of $7.40.

PowerFleet Trading Up 5.9%

The stock has a market cap of $383.90 million, a price-to-earnings ratio of -20.43 and a beta of 1.40. The business's fifty day simple moving average is $2.82 and its 200 day simple moving average is $3.56. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.10 and a quick ratio of 0.96.

PowerFleet (NASDAQ:AIOT - Get Free Report) last issued its earnings results on Monday, August 10th. The company reported ($0.01) earnings per share for the quarter, topping analysts' consensus estimates of ($0.02) by $0.01. PowerFleet had a negative net margin of 4.16% and a positive return on equity of 0.48%. The company had revenue of $110.79 million for the quarter, compared to analysts' expectations of $115.54 million. On average, research analysts predict that PowerFleet, Inc. will post 0.10 EPS for the current year.

Institutional Investors Weigh In On PowerFleet

Several institutional investors and hedge funds have recently bought and sold shares of AIOT. Wasatch Advisors LP increased its stake in shares of PowerFleet by 16.4% in the second quarter. Wasatch Advisors LP now owns 2,608,977 shares of the company's stock valued at $9,992,000 after purchasing an additional 367,248 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of PowerFleet by 20.3% during the first quarter. Dimensional Fund Advisors LP now owns 4,129,670 shares of the company's stock valued at $12,718,000 after purchasing an additional 698,112 shares in the last quarter. Kopion Asset Management LLC lifted its stake in shares of PowerFleet by 36.3% in the 3rd quarter. Kopion Asset Management LLC now owns 3,303,859 shares of the company's stock worth $9,383,000 after acquiring an additional 879,571 shares during the period. BlackRock Inc. acquired a new stake in PowerFleet in the second quarter worth approximately $39,489,000. Finally, AWM Investment Company Inc. bought a new position in PowerFleet during the second quarter valued at about $14,709,000. Institutional investors and hedge funds own 73.40% of the company's stock.

About PowerFleet

Powerfleet, Inc provides connected-vehicle and asset-management solutions designed to help organizations monitor, manage and optimize mobile assets. Its platform combines Internet of Things (IoT) connectivity, telematics, location tracking and analytics to deliver visibility into vehicles, equipment, cargo and other assets.

The company's products and services support fleet management, driver safety, vehicle and equipment utilization, maintenance, logistics and supply-chain operations. Powerfleet serves a range of industries, including transportation, logistics, commercial fleets, rental and leasing, construction, manufacturing and other organizations that rely on mobile assets.

Powerfleet has expanded its capabilities through acquisitions and business combinations, including its 2019 acquisition of Pointer Telocation and its 2024 combination with MiX Telematics.

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