PowerFleet (NASDAQ:AIOT) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of PowerFleet (NASDAQ:AIOT) from a sell rating to a hold rating in a report released on Saturday morning.

A number of other research analysts have also issued reports on the stock. Zacks Research upgraded shares of PowerFleet from a “strong sell” rating to a “hold” rating in a research note on Monday, October 13th. Weiss Ratings reiterated a “sell (d-)” rating on shares of PowerFleet in a research note on Wednesday, October 8th. William Blair restated an “outperform” rating on shares of PowerFleet in a research note on Tuesday, November 11th. Finally, Barrington Research reaffirmed an “outperform” rating and set a $15.00 target price on shares of PowerFleet in a report on Wednesday, November 26th. Five investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $10.50.

PowerFleet Trading Down 1.9%

Shares of AIOT opened at $5.18 on Friday. The firm has a market capitalization of $693.19 million, a price-to-earnings ratio of -16.71 and a beta of 1.35. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.07 and a quick ratio of 0.93. PowerFleet has a 1-year low of $3.70 and a 1-year high of $8.71. The company has a 50-day moving average of $5.05 and a 200 day moving average of $4.79.

PowerFleet (NASDAQ:AIOT) last issued its earnings results on Monday, November 10th. The company reported $0.02 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.02. The business had revenue of $111.68 million during the quarter, compared to analyst estimates of $105.51 million. PowerFleet had a negative return on equity of 9.00% and a negative net margin of 9.70%. On average, research analysts expect that PowerFleet will post -0.32 EPS for the current year.

Institutional Investors Weigh In On PowerFleet

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Corebridge Financial Inc. boosted its stake in PowerFleet by 4.3% during the 1st quarter. Corebridge Financial Inc. now owns 49,009 shares of the company’s stock worth $269,000 after purchasing an additional 2,036 shares during the period. Inspire Investing LLC grew its holdings in shares of PowerFleet by 4.0% during the first quarter. Inspire Investing LLC now owns 62,253 shares of the company’s stock worth $342,000 after buying an additional 2,419 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in PowerFleet by 1.4% in the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 206,082 shares of the company’s stock valued at $888,000 after acquiring an additional 2,871 shares during the period. Spire Wealth Management raised its stake in PowerFleet by 39.6% during the 2nd quarter. Spire Wealth Management now owns 12,750 shares of the company’s stock valued at $55,000 after acquiring an additional 3,620 shares during the last quarter. Finally, Ameritas Investment Partners Inc. lifted its position in PowerFleet by 43.2% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 12,692 shares of the company’s stock worth $55,000 after acquiring an additional 3,826 shares during the period. Institutional investors and hedge funds own 73.40% of the company’s stock.

PowerFleet Company Profile

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.