PowerFleet, Inc. (NASDAQ:AIOT) Receives $11.50 Average Target Price from Analysts

Shares of PowerFleet, Inc. (NASDAQ:AIOT) have been given an average rating of “Moderate Buy” by the five brokerages that are covering the firm, MarketBeat reports. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $11.50.

A number of equities research analysts have weighed in on the company. Weiss Ratings reiterated a “hold (c-)” rating on shares of PowerFleet in a research note on Friday, May 8th. Wall Street Zen upgraded PowerFleet from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. Finally, Barrington Research restated an “outperform” rating and set a $15.00 price target on shares of PowerFleet in a research note on Friday, February 6th.

PowerFleet Price Performance

Shares of NASDAQ AIOT opened at $3.23 on Tuesday. The company has a current ratio of 1.09, a quick ratio of 0.96 and a debt-to-equity ratio of 0.48. PowerFleet has a twelve month low of $2.78 and a twelve month high of $6.05. The stock has a 50 day moving average of $3.18 and a two-hundred day moving average of $4.29. The stock has a market cap of $433.30 million, a P/E ratio of -14.04 and a beta of 1.38.

Institutional Investors Weigh In On PowerFleet

Several large investors have recently modified their holdings of AIOT. Wasatch Advisors LP purchased a new stake in shares of PowerFleet during the second quarter worth approximately $6,426,000. Kennedy Capital Management LLC raised its position in PowerFleet by 292.3% in the fourth quarter. Kennedy Capital Management LLC now owns 1,970,918 shares of the company’s stock worth $10,485,000 after acquiring an additional 1,468,573 shares in the last quarter. Renaissance Technologies LLC raised its position in PowerFleet by 1,644.7% in the first quarter. Renaissance Technologies LLC now owns 1,530,725 shares of the company’s stock worth $4,715,000 after acquiring an additional 1,442,989 shares in the last quarter. Pinnacle Associates Ltd. raised its position in PowerFleet by 635.7% in the third quarter. Pinnacle Associates Ltd. now owns 1,398,305 shares of the company’s stock worth $7,327,000 after acquiring an additional 1,208,252 shares in the last quarter. Finally, Nuveen LLC raised its position in PowerFleet by 44.7% in the fourth quarter. Nuveen LLC now owns 3,312,956 shares of the company’s stock worth $17,625,000 after acquiring an additional 1,023,077 shares in the last quarter. 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.