Northland Securities Issues Positive Forecast for Powerfleet (NASDAQ:AIOT) Stock Price

Powerfleet (NASDAQ:AIOT) had its target price hoisted by Northland Securities from $10.00 to $11.00 in a research note issued to investors on Tuesday,Benzinga reports. Northland Securities currently has an outperform rating on the stock.

AIOT has been the subject of several other reports. Barrington Research restated an “outperform” rating and set a $15.00 target price on shares of Powerfleet in a report on Thursday, February 6th. William Blair reiterated an “outperform” rating on shares of Powerfleet in a report on Thursday, November 21st.

Powerfleet Price Performance

NASDAQ:AIOT opened at $8.07 on Tuesday. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.51 and a current ratio of 1.71. The firm has a 50-day moving average price of $6.47 and a two-hundred day moving average price of $5.68. Powerfleet has a twelve month low of $2.85 and a twelve month high of $8.71.

Powerfleet (NASDAQ:AIOT) last posted its earnings results on Monday, February 10th. The company reported ($0.11) earnings per share for the quarter, missing the consensus estimate of $0.02 by ($0.13). Analysts expect that Powerfleet will post -0.14 earnings per share for the current fiscal year.

Insider Transactions at Powerfleet

In related news, insider Catherine J. Lewis sold 82,010 shares of the firm’s stock in a transaction that occurred on Thursday, December 5th. The shares were sold at an average price of $7.05, for a total value of $578,170.50. Following the sale, the insider now directly 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 7.79% of the company’s stock.

Institutional Investors Weigh In On Powerfleet

Hedge funds have recently modified their holdings of the stock. Signaturefd LLC acquired a new stake in shares of Powerfleet in the fourth quarter worth approximately $25,000. Financial Management Professionals Inc. acquired a new stake in shares of Powerfleet in the fourth quarter worth approximately $50,000. Spire Wealth Management acquired a new stake in shares of Powerfleet in the fourth quarter worth approximately $55,000. Legal & General Group Plc acquired a new stake in shares of Powerfleet in the fourth quarter worth approximately $58,000. Finally, Ameritas Investment Partners Inc. acquired a new stake in shares of Powerfleet in the fourth quarter worth approximately $59,000. 73.40% of the stock is owned by institutional investors and hedge funds.

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.