PowerFleet (NASDAQ:AIOT) Shares Up 10.1% – Time to Buy?
by Mitch Edgeman · The Markets DailyPowerFleet, Inc. (NASDAQ:AIOT – Get Free Report) shot up 10.1% on Thursday . The company traded as high as $4.20 and last traded at $4.1950. 958,257 shares traded hands during trading, a decline of 38% from the average session volume of 1,545,506 shares. The stock had previously closed at $3.81.
Analyst Ratings Changes
A number of research firms have weighed in on AIOT. Barrington Research restated an “outperform” rating and set a $15.00 price target on shares of PowerFleet in a research report on Friday, February 6th. Wall Street Zen upgraded PowerFleet from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of PowerFleet in a research report on Friday, May 8th. Two analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $15.00.
Get Our Latest Analysis on AIOT
PowerFleet Stock Performance
The stock has a market cap of $515.14 million, a PE ratio of -16.69 and a beta of 1.43. The company has a fifty day moving average price of $3.32 and a 200 day moving average price of $4.14. The company has a quick ratio of 0.96, a current ratio of 1.09 and a debt-to-equity ratio of 0.48.
Institutional Inflows and Outflows
Hedge funds have recently bought and sold shares of the business. Hurley Capital LLC purchased a new position in PowerFleet during the 4th quarter valued at about $32,000. Kemnay Advisory Services Inc. purchased a new position in PowerFleet during the 4th quarter valued at about $48,000. MGO One Seven LLC purchased a new position in PowerFleet during the 4th quarter valued at about $55,000. Krilogy Financial LLC purchased a new position in PowerFleet during the 4th quarter valued at about $58,000. Finally, Royal Bank of Canada increased its holdings in PowerFleet by 76.9% during the 1st quarter. Royal Bank of Canada now owns 11,233 shares of the company’s stock valued at $34,000 after purchasing an additional 4,883 shares during the period. Hedge funds and other institutional investors own 73.40% of the company’s stock.
About PowerFleet
PowerFleet, Inc (NASDAQ: AIOT) develops and delivers Internet of Things (IoT)–based telematics and asset-tracking solutions designed to help businesses monitor, manage and optimize fleets of vehicles and industrial equipment. Its core offerings include wireless sensors, GPS tracking devices and cloud-hosted software platforms that provide real-time visibility into vehicle whereabouts, usage patterns, fuel consumption and maintenance needs. The company’s systems also support regulatory compliance and safety monitoring, enabling customers to reduce operational costs, minimize theft and improve overall asset utilization.
The company’s hardware portfolio features RFID readers, active and passive tags, onboard diagnostics (OBD) adapters and temperature or motion sensors that can be deployed on trucks, trailers, forklifts, containers and other high-value assets.