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

Barrington Research reiterated their outperform rating on shares of Powerfleet (NASDAQ:AIOT) in a research report report published on Thursday morning,Benzinga reports. The firm currently has a $15.00 price objective on the stock.

Other research analysts also recently issued reports about the stock. Northland Securities increased their price objective on shares of Powerfleet from $8.00 to $10.00 and gave the company an “outperform” rating in a research note on Friday, November 22nd. William Blair restated an “outperform” rating on shares of Powerfleet in a research report on Thursday, November 21st.

Powerfleet Stock Up 1.8 %

NASDAQ AIOT opened at $6.10 on Thursday. Powerfleet has a 12 month low of $2.85 and a 12 month high of $7.38. The company has a current ratio of 1.71, a quick ratio of 1.51 and a debt-to-equity ratio of 0.25. The company’s fifty day moving average price is $6.45 and its two-hundred day moving average price is $5.60.

Powerfleet (NASDAQ:AIOT) last posted its quarterly earnings data on Tuesday, November 12th. The company reported ($0.02) EPS for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.01). The business had revenue of $77.02 million for the quarter, compared to analysts’ expectations of $74.54 million. During the same quarter last year, the business earned ($0.14) EPS. Equities analysts anticipate that Powerfleet will post -0.14 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Powerfleet news, insider Catherine J. Lewis sold 82,010 shares of the firm’s stock in a transaction dated Thursday, December 5th. The shares were sold at an average price of $7.05, for a total transaction of $578,170.50. Following the transaction, the insider now owns 240,962 shares of the company’s stock, valued at approximately $1,698,782.10. This trade represents a 25.39 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 7.79% of the company’s stock.

Hedge Funds Weigh In On Powerfleet

Large investors have recently made changes to their positions in the business. Financial Management Professionals Inc. acquired a new position in shares of Powerfleet in the fourth quarter worth about $50,000. Spire Wealth Management acquired a new position in shares of Powerfleet in the fourth quarter worth about $55,000. Private Advisor Group LLC acquired a new position in shares of Powerfleet in the fourth quarter worth about $68,000. Victory Capital Management Inc. acquired a new stake in shares of Powerfleet during the fourth quarter worth approximately $103,000. Finally, New York State Common Retirement Fund acquired a new stake in shares of Powerfleet during the fourth quarter worth approximately $113,000. Institutional investors own 73.40% of the company’s stock.

About Powerfleet

PowerFleet, Inc engages in the provision of fleet management solutions for logistics, industrial, and vehicles. It offers wireless Internet of Things and machine to machine solutions for securing, controlling, tracking, and managing enterprise assets such as industrial trucks, tractor trailers, containers, cargo, and vehicle and truck fleets.