PowerFleet (NASDAQ:AIOT) Issues Quarterly Earnings Results, Misses Expectations By $0.05 EPS

PowerFleet (NASDAQ:AIOT) released its quarterly earnings data on Monday. The company reported ($0.03) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.02 by ($0.05), Zacks reports. PowerFleet had a negative return on equity of 8.56% and a negative net margin of 9.95%. PowerFleet updated its FY 2025 guidance to EPS.

PowerFleet Stock Performance

Shares of NASDAQ AIOT opened at $5.54 on Monday. The stock has a 50 day simple moving average of $5.15 and a 200-day simple moving average of $4.85. The company has a current ratio of 1.07, a quick ratio of 0.92 and a debt-to-equity ratio of 0.51. The company has a market cap of $739.27 million, a PE ratio of -18.41 and a beta of 1.35. PowerFleet has a 12-month low of $3.70 and a 12-month high of $8.71.

Insider Activity

In related news, CEO Steven Mark Towe acquired 23,157 shares of PowerFleet stock in a transaction dated Thursday, August 14th. The stock was acquired at an average cost of $4.42 per share, with a total value of $102,353.94. Following the purchase, the chief executive officer directly owned 2,457,923 shares in the company, valued at $10,864,019.66. The trade was a 0.95% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Michael J. Mcconnell purchased 10,000 shares of the firm’s stock in a transaction that occurred on Monday, August 18th. The stock was bought at an average price of $4.64 per share, with a total value of $46,400.00. Following the transaction, the director directly owned 28,028 shares in the company, valued at $130,049.92. This trade represents a 55.47% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Company insiders own 6.30% of the company’s stock.

Hedge Funds Weigh In On PowerFleet

Several hedge funds have recently bought and sold shares of the business. BNP Paribas Financial Markets raised its holdings in PowerFleet by 100.9% during the 2nd quarter. BNP Paribas Financial Markets now owns 11,756 shares of the company’s stock worth $51,000 after buying an additional 5,904 shares during the period. Prudential Financial Inc. acquired a new position in PowerFleet in the 2nd quarter worth $65,000. Jump Financial LLC acquired a new stake in shares of PowerFleet in the 2nd quarter valued at about $79,000. Oxford Asset Management LLP bought a new stake in shares of PowerFleet in the second quarter valued at about $81,000. Finally, The Manufacturers Life Insurance Company boosted its position in shares of PowerFleet by 31.3% during the second quarter. The Manufacturers Life Insurance Company now owns 45,113 shares of the company’s stock worth $194,000 after buying an additional 10,766 shares during the period. 73.40% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

AIOT has been the topic of a number of research reports. Zacks Research raised PowerFleet from a “strong sell” rating to a “hold” rating in a report on Monday, October 13th. Wall Street Zen downgraded PowerFleet from a “hold” rating to a “sell” rating in a research report on Sunday, November 2nd. Barrington Research reissued an “outperform” rating and set a $15.00 target price on shares of PowerFleet in a research report on Friday. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of PowerFleet in a research note on Wednesday, October 8th. Five equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $10.50.

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.