PowerFleet (NASDAQ:AIOT) Announces Quarterly Earnings Results

PowerFleet (NASDAQ:AIOT) released its quarterly earnings data on Monday. The company reported $0.04 earnings per share (EPS) for the quarter, FiscalAI reports. The firm had revenue of $114.49 million during the quarter, compared to analysts’ expectations of $112.98 million. PowerFleet had a negative return on equity of 5.23% and a negative net margin of 7.00%.During the same quarter in the prior year, the business posted ($0.09) earnings per share.

PowerFleet Price Performance

AIOT opened at $4.22 on Monday. The company has a quick ratio of 0.96, a current ratio of 1.09 and a debt-to-equity ratio of 0.48. The firm has a market cap of $566.11 million, a P/E ratio of -18.35 and a beta of 1.43. PowerFleet has a 52 week low of $2.78 and a 52 week high of $5.88. The business’s fifty day simple moving average is $3.43 and its 200 day simple moving average is $4.12.

Institutional Trading of PowerFleet

A number of large investors have recently made changes to their positions in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in PowerFleet by 1.4% in the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 206,082 shares of the company’s stock worth $888,000 after buying an additional 2,871 shares during the last quarter. BNP Paribas Financial Markets boosted its stake in PowerFleet by 100.9% in the 2nd quarter. BNP Paribas Financial Markets now owns 11,756 shares of the company’s stock worth $51,000 after buying an additional 5,904 shares during the last quarter. Swiss National Bank boosted its stake in PowerFleet by 2.7% in the 4th quarter. Swiss National Bank now owns 236,800 shares of the company’s stock worth $1,260,000 after buying an additional 6,300 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its stake in PowerFleet by 9.7% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 72,259 shares of the company’s stock worth $385,000 after buying an additional 6,386 shares during the last quarter. Finally, Captrust Financial Advisors boosted its stake in PowerFleet by 4.2% in the 4th quarter. Captrust Financial Advisors now owns 190,417 shares of the company’s stock worth $1,013,000 after buying an additional 7,589 shares during the last quarter. Institutional investors and hedge funds own 73.40% of the company’s stock.

Wall Street Analysts Forecast Growth

AIOT has been the subject of several research analyst reports. Weiss Ratings reiterated a “hold (c-)” rating on shares of PowerFleet in a research report on Friday, May 8th. Wall Street Zen raised PowerFleet from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. Two equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, PowerFleet has a consensus rating of “Moderate Buy” and a consensus target price of $15.00.

PowerFleet Company Profile

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.