PowerFleet, Inc. (NASDAQ:AIOT) Receives $10.33 Consensus Target Price from Analysts

PowerFleet, Inc. (NASDAQ:AIOT) has been assigned an average rating of “Moderate Buy” from the six research firms that are covering the company, MarketBeat.com reports. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $10.3333.

AIOT has been the topic of a number of research reports. Barrington Research restated an “outperform” rating and issued a $15.00 price objective on shares of PowerFleet in a report on Friday, February 6th. Wall Street Zen upgraded shares of PowerFleet from a “sell” rating to a “hold” rating in a report on Saturday, December 13th. William Blair reaffirmed an “outperform” rating on shares of PowerFleet in a research report on Tuesday, November 11th. Finally, Weiss Ratings raised shares of PowerFleet from a “sell (d-)” rating to a “hold (c-)” rating in a research report on Tuesday, February 10th.

Institutional Investors Weigh In On PowerFleet

Large investors have recently modified their holdings of the stock. Private Capital Management LLC lifted its position in PowerFleet by 3.1% during the 4th quarter. Private Capital Management LLC now owns 7,584,853 shares of the company’s stock worth $40,351,000 after acquiring an additional 230,780 shares in the last quarter. Voss Capital LP boosted its stake in shares of PowerFleet by 4.3% in the third quarter. Voss Capital LP now owns 5,800,000 shares of the company’s stock valued at $30,392,000 after purchasing an additional 240,509 shares during the period. Private Management Group Inc. boosted its stake in shares of PowerFleet by 1.1% in the fourth quarter. Private Management Group Inc. now owns 5,264,812 shares of the company’s stock valued at $28,009,000 after purchasing an additional 56,534 shares during the period. Royce & Associates LP grew its holdings in PowerFleet by 3.7% during the 4th quarter. Royce & Associates LP now owns 4,471,131 shares of the company’s stock valued at $23,786,000 after purchasing an additional 159,256 shares in the last quarter. Finally, CenterBook Partners LP increased its stake in PowerFleet by 40.4% during the 2nd quarter. CenterBook Partners LP now owns 4,040,568 shares of the company’s stock worth $17,415,000 after buying an additional 1,162,742 shares during the period. Institutional investors and hedge funds own 73.40% of the company’s stock.

PowerFleet Stock Up 3.5%

Shares of AIOT opened at $3.59 on Thursday. PowerFleet has a fifty-two week low of $3.30 and a fifty-two week high of $6.55. The company’s fifty day moving average is $4.78 and its two-hundred day moving average is $4.95. The firm has a market cap of $481.59 million, a PE ratio of -15.61 and a beta of 1.37. The company has a quick ratio of 0.96, a current ratio of 1.09 and a debt-to-equity ratio of 0.48.

PowerFleet (NASDAQ:AIOT) last issued its earnings results on Monday, February 9th. The company reported $0.02 earnings per share for the quarter, missing the consensus estimate of $0.04 by ($0.02). PowerFleet had a negative return on equity of 5.23% and a negative net margin of 7.00%.The firm had revenue of $113.49 million during the quarter, compared to analysts’ expectations of $111.69 million. Analysts forecast that PowerFleet will post -0.32 earnings per share for the current year.

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.