PowerFleet, Inc. (NASDAQ:AIOT) Receives Consensus Rating of “Moderate Buy” from Analysts

Shares of PowerFleet, Inc. (NASDAQ:AIOT) have earned a consensus recommendation of “Moderate Buy” from the six brokerages that are presently covering the firm, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $10.3333.

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

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Kopion Asset Management LLC lifted its stake in PowerFleet by 101.7% in the third quarter. Kopion Asset Management LLC now owns 1,553,700 shares of the company’s stock valued at $8,141,000 after purchasing an additional 783,501 shares during the last quarter. Dynamic Technology Lab Private Ltd increased its position in PowerFleet by 135.4% in the second quarter. Dynamic Technology Lab Private Ltd now owns 107,776 shares of the company’s stock worth $465,000 after buying an additional 61,992 shares during the last quarter. Private Management Group Inc. raised its stake in shares of PowerFleet by 29.3% in the second quarter. Private Management Group Inc. now owns 4,884,151 shares of the company’s stock valued at $21,051,000 after buying an additional 1,105,673 shares during the period. Geode Capital Management LLC lifted its position in shares of PowerFleet by 13.3% during the 2nd quarter. Geode Capital Management LLC now owns 2,932,054 shares of the company’s stock valued at $12,639,000 after buying an additional 343,580 shares during the last quarter. Finally, Samjo Management LLC grew its stake in shares of PowerFleet by 6.1% during the 2nd quarter. Samjo Management LLC now owns 2,229,550 shares of the company’s stock worth $9,609,000 after acquiring an additional 127,350 shares during the period. Hedge funds and other institutional investors own 73.40% of the company’s stock.

PowerFleet Stock Performance

Shares of AIOT opened at $3.49 on Thursday. PowerFleet has a one year low of $3.39 and a one year high of $7.14. The company has a market cap of $468.18 million, a PE ratio of -15.17 and a beta of 1.37. The stock has a 50-day moving average of $4.86 and a 200-day moving average of $4.97. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.09 and a quick ratio of 0.96.

PowerFleet (NASDAQ:AIOT) last announced its quarterly earnings results on Monday, February 9th. The company reported $0.02 earnings per share (EPS) 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 the consensus estimate of $111.69 million. On average, equities research analysts predict that PowerFleet will post -0.32 EPS for the current fiscal 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.