PowerFleet (NASDAQ:AIOT) Stock Price Up 8.5% – Time to Buy?

PowerFleet, Inc. (NASDAQ:AIOT)’s stock price rose 8.5% during mid-day trading on Friday . The stock traded as high as $3.87 and last traded at $3.9050. Approximately 577,781 shares traded hands during trading, a decline of 59% from the average daily volume of 1,392,347 shares. The stock had previously closed at $3.60.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on AIOT shares. Weiss Ratings raised PowerFleet from a “sell (d-)” rating to a “hold (c-)” rating in a report on Tuesday. William Blair reissued an “outperform” rating on shares of PowerFleet in a research note on Tuesday, November 11th. Wall Street Zen upgraded PowerFleet from a “sell” rating to a “hold” rating in a report on Saturday, December 13th. Finally, Barrington Research reiterated an “outperform” rating and issued a $15.00 price objective on shares of PowerFleet in a report on Friday, February 6th. Four analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, PowerFleet has an average rating of “Moderate Buy” and a consensus target price of $10.33.

PowerFleet Price Performance

The stock has a market cap of $521.84 million, a P/E ratio of -16.91 and a beta of 1.33. The business has a 50-day simple moving average of $5.21 and a 200 day simple moving average of $5.00. The company has a current ratio of 1.09, a quick ratio of 0.93 and a debt-to-equity ratio of 0.48.

PowerFleet (NASDAQ:AIOT) last posted its quarterly earnings data on Monday, February 9th. The company reported $0.02 EPS for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.02). The company had revenue of $113.49 million during the quarter, compared to analyst estimates of $111.69 million. PowerFleet had a negative return on equity of 5.23% and a negative net margin of 7.00%. On average, analysts forecast that PowerFleet, Inc. will post -0.32 earnings per share for the current year.

Hedge Funds Weigh In On PowerFleet

Hedge funds and other institutional investors have recently bought and sold shares of the company. State of Alaska Department of Revenue bought a new stake in PowerFleet during the third quarter valued at $31,000. CWM LLC boosted its position in shares of PowerFleet by 784.9% during the 3rd quarter. CWM LLC now owns 6,203 shares of the company’s stock valued at $33,000 after purchasing an additional 5,502 shares in the last quarter. BNP Paribas Financial Markets grew its stake in PowerFleet by 100.9% during the second quarter. BNP Paribas Financial Markets now owns 11,756 shares of the company’s stock worth $51,000 after purchasing an additional 5,904 shares during the period. Spire Wealth Management grew its stake in PowerFleet by 39.6% during the second quarter. Spire Wealth Management now owns 12,750 shares of the company’s stock worth $55,000 after purchasing an additional 3,620 shares during the period. Finally, Ameritas Investment Partners Inc. increased its holdings in PowerFleet by 43.2% in the second quarter. Ameritas Investment Partners Inc. now owns 12,692 shares of the company’s stock worth $55,000 after purchasing an additional 3,826 shares in the last quarter. Institutional investors and hedge funds 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.