Catherine J. Lewis Sells 82,010 Shares of Powerfleet, Inc. (NASDAQ:AIOT) Stock

Powerfleet, Inc. (NASDAQ:AIOT) insider Catherine J. Lewis sold 82,010 shares of the stock in a transaction that occurred on 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 in the company, valued at $1,698,782.10. The trade was a 25.39 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Powerfleet Price Performance

NASDAQ:AIOT opened at $6.74 on Wednesday. Powerfleet, Inc. has a fifty-two week low of $2.22 and a fifty-two week high of $7.38. The company has a quick ratio of 1.51, a current ratio of 1.71 and a debt-to-equity ratio of 0.25. The company’s 50 day moving average is $5.84.

Powerfleet (NASDAQ:AIOT) last released its quarterly earnings data on Tuesday, November 12th. The company reported ($0.02) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.01). The firm had revenue of $77.02 million during the quarter, compared to analysts’ expectations of $74.54 million. During the same period in the previous year, the business posted ($0.14) earnings per share. As a group, research analysts forecast that Powerfleet, Inc. will post -0.14 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages have commented on AIOT. Barrington Research increased their price target on shares of Powerfleet from $10.00 to $15.00 and gave the company an “outperform” rating in a research report on Friday, November 22nd. Northland Securities increased their price objective on Powerfleet from $8.00 to $10.00 and gave the company an “outperform” rating in a research note on Friday, November 22nd. Finally, William Blair reissued an “outperform” rating on shares of Powerfleet in a research note on Thursday, November 21st.

Powerfleet Company Profile

PowerFleet, Inc provides wireless Internet-of-Things asset management solutions in the United States, Israel, and internationally. The company offers real-time intelligence for organizations to capture IoT data from various types of assets with devices and sensors to increase efficiencies, and improve safety and security, as well as increase their profitability in easy-to-understand reports, dashboards, and real-time alerts; and application programming interfaces for additional integrations and development to boost other enterprise management systems and third-party applications.