PowerFleet (NASDAQ:AIOT) Given “Outperform” Rating at Barrington Research

PowerFleet (NASDAQ:AIOT)‘s stock had its “outperform” rating reissued by analysts at Barrington Research in a research report issued to clients and investors on Monday,Benzinga reports. They presently have a $15.00 price objective on the stock. Barrington Research’s price target points to a potential upside of 179.59% from the company’s current price.

Several other research firms also recently weighed in on AIOT. Zacks Research upgraded shares of PowerFleet from a “strong sell” rating to a “hold” rating in a research note on Monday, October 13th. William Blair reiterated an “outperform” rating on shares of PowerFleet in a report on Tuesday, November 11th. Weiss Ratings restated a “sell (d-)” rating on shares of PowerFleet in a research note on Wednesday, October 8th. Finally, Wall Street Zen raised shares of PowerFleet from a “sell” rating to a “hold” rating in a research report on Saturday, December 13th. Five research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, PowerFleet currently has a consensus rating of “Moderate Buy” and an average target price of $10.50.

PowerFleet Price Performance

AIOT traded up $0.12 on Monday, hitting $5.37. 139,527 shares of the stock were exchanged, compared to its average volume of 554,193. PowerFleet has a 12 month low of $3.70 and a 12 month high of $8.71. The firm has a market capitalization of $717.94 million, a price-to-earnings ratio of -17.31 and a beta of 1.34. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.07 and a quick ratio of 0.93. The business has a 50-day moving average of $5.08 and a two-hundred day moving average of $4.85.

PowerFleet (NASDAQ:AIOT) last announced its quarterly earnings data on Monday, November 10th. The company reported $0.02 EPS for the quarter, meeting analysts’ consensus estimates of $0.02. PowerFleet had a negative return on equity of 9.00% and a negative net margin of 9.70%.The firm had revenue of $111.68 million during the quarter, compared to analysts’ expectations of $105.51 million. Sell-side analysts forecast that PowerFleet will post -0.32 EPS for the current fiscal year.

Hedge Funds Weigh In On PowerFleet

Several institutional investors have recently bought and sold shares of the company. Connors Investor Services Inc. raised its stake in PowerFleet by 12.8% in the 3rd quarter. Connors Investor Services Inc. now owns 53,000 shares of the company’s stock valued at $278,000 after purchasing an additional 6,000 shares during the last quarter. CIBC Bancorp USA Inc. purchased a new stake in shares of PowerFleet during the third quarter worth about $69,000. Voss Capital LP raised its position 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 buying an additional 240,509 shares during the last quarter. Worth Venture Partners LLC purchased a new position in shares of PowerFleet during the third quarter valued at approximately $177,000. Finally, Verition Fund Management LLC boosted its position in PowerFleet by 56.5% during the third quarter. Verition Fund Management LLC now owns 37,789 shares of the company’s stock worth $198,000 after acquiring an additional 13,637 shares during the last quarter. 73.40% of the stock is owned by institutional investors and hedge funds.

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.