PowerFleet (NASDAQ:AIOT) Hits New 52-Week Low – What’s Next?

PowerFleet, Inc. (NASDAQ:AIOT) shares reached a new 52-week low on Thursday . The company traded as low as $3.67 and last traded at $3.7550, with a volume of 959918 shares. The stock had previously closed at $4.03.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on AIOT shares. Weiss Ratings raised PowerFleet from a “sell (d-)” rating to a “hold (c-)” rating in a research note on Tuesday. 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. Wall Street Zen upgraded shares of PowerFleet from a “sell” rating to a “hold” rating in a research note on Saturday, December 13th. Finally, William Blair reaffirmed an “outperform” rating on shares of PowerFleet in a research note on Tuesday, November 11th. Four analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, PowerFleet has an average rating of “Moderate Buy” and a consensus target price of $10.33.

PowerFleet Trading Up 8.1%

The company’s fifty day moving average is $5.21 and its 200-day moving average is $4.99. The company has a current ratio of 1.09, a quick ratio of 0.93 and a debt-to-equity ratio of 0.48. The firm has a market capitalization of $521.84 million, a P/E ratio of -16.91 and a beta of 1.33.

PowerFleet (NASDAQ:AIOT) last released its earnings results on Monday, February 9th. The company reported $0.02 earnings per share for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.02). The firm had revenue of $113.49 million for 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%. As a group, sell-side analysts anticipate that PowerFleet, Inc. will post -0.32 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in AIOT. Royal Bank of Canada boosted its position in shares of PowerFleet by 198.0% in the first quarter. Royal Bank of Canada now owns 91,365 shares of the company’s stock valued at $501,000 after acquiring an additional 60,705 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in PowerFleet by 275.7% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 203,211 shares of the company’s stock valued at $1,116,000 after purchasing an additional 149,116 shares during the last quarter. Dynamic Technology Lab Private Ltd bought a new stake in PowerFleet in the 1st quarter valued at $251,000. Goldman Sachs Group Inc. grew its position in PowerFleet by 15.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,045,424 shares of the company’s stock worth $5,739,000 after purchasing an additional 138,856 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC acquired a new stake in PowerFleet in the 1st quarter worth $3,670,000. 73.40% of the stock is owned by institutional investors.

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.