PowerFleet, Inc. (NASDAQ:AIOT) Receives Consensus Recommendation of “Hold” from Analysts

PowerFleet, Inc. (NASDAQ:AIOT) has been assigned a consensus rating of “Hold” from the five brokerages that are currently covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $9.6667.

AIOT has been the subject of several research analyst reports. Weiss Ratings lowered PowerFleet from a “hold (c-)” rating to a “sell (d-)” rating in a research report on Tuesday, June 16th. Wall Street Zen upgraded PowerFleet from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. UBS Group set a $7.00 price objective on PowerFleet in a research note on Tuesday, June 16th. Finally, Raymond James Financial reduced their price objective on PowerFleet from $8.00 to $7.00 and set an “outperform” rating on the stock in a research note on Tuesday, June 16th.

Institutional Trading of PowerFleet

Hedge funds have recently modified their holdings of the stock. Pinnacle Associates Ltd. raised its stake in PowerFleet by 635.7% in the third quarter. Pinnacle Associates Ltd. now owns 1,398,305 shares of the company’s stock valued at $7,327,000 after buying an additional 1,208,252 shares in the last quarter. Private Management Group Inc. raised its stake in PowerFleet by 6.6% in the third quarter. Private Management Group Inc. now owns 5,208,278 shares of the company’s stock valued at $27,291,000 after buying an additional 324,127 shares in the last quarter. Royce & Associates LP raised its stake in PowerFleet by 10.4% in the third quarter. Royce & Associates LP now owns 4,311,875 shares of the company’s stock valued at $22,594,000 after buying an additional 404,540 shares in the last quarter. Bastion Asset Management Inc. acquired a new stake in PowerFleet in the third quarter valued at $4,776,000. Finally, Kennedy Capital Management LLC raised its stake in PowerFleet by 292.3% in the fourth quarter. Kennedy Capital Management LLC now owns 1,970,918 shares of the company’s stock valued at $10,485,000 after buying an additional 1,468,573 shares in the last quarter. 73.40% of the stock is currently owned by institutional investors and hedge funds.

PowerFleet Trading Down 1.8%

AIOT opened at $3.91 on Tuesday. PowerFleet has a 52 week low of $2.78 and a 52 week high of $5.88. The business has a fifty day simple moving average of $3.54 and a 200-day simple moving average of $4.09. The firm has a market cap of $524.65 million, a P/E ratio of -24.44 and a beta of 1.43. The company has a quick ratio of 0.99, a current ratio of 1.13 and a debt-to-equity ratio of 0.48.

PowerFleet (NASDAQ:AIOT) last released its quarterly earnings results on Monday, June 15th. The company reported $0.04 EPS for the quarter. PowerFleet had a negative return on equity of 1.33% and a negative net margin of 4.63%.The business had revenue of $114.49 million during the quarter, compared to analyst estimates of $112.98 million. During the same period last year, the business posted ($0.09) earnings per share. On average, equities analysts expect that PowerFleet will post 0.17 earnings per share for the current year.

PowerFleet Company Profile

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.