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 research note released on Saturday.

Several other equities analysts have also recently weighed in on the stock. Zacks Research upgraded shares of PowerFleet from a “strong sell” rating to a “hold” rating in a research report on Monday, October 13th. Weiss Ratings reiterated a “sell (d-)” rating on shares of PowerFleet in a research report on Wednesday, October 8th. Finally, Barrington Research reiterated an “outperform” rating and set a $15.00 price objective on shares of PowerFleet in a research report on Tuesday, September 23rd. Five equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $10.50.

PowerFleet Price Performance

NASDAQ AIOT opened at $5.46 on Friday. The stock has a market capitalization of $728.60 million, a P/E ratio of -18.20 and a beta of 1.32. PowerFleet has a 1 year low of $3.70 and a 1 year high of $8.71. The business’s fifty day moving average is $5.08 and its two-hundred day moving average is $4.84. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.92 and a current ratio of 1.07.

Insider Buying and Selling at PowerFleet

In related news, Director Michael J. Mcconnell purchased 10,000 shares of the stock in a transaction dated Monday, August 18th. The shares were acquired at an average cost of $4.64 per share, for a total transaction of $46,400.00. Following the acquisition, the director directly owned 28,028 shares in the company, valued at approximately $130,049.92. The trade was a 55.47% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Steven Mark Towe purchased 23,157 shares of the stock in a transaction dated Thursday, August 14th. The shares were bought at an average price of $4.42 per share, for a total transaction of $102,353.94. Following the completion of the acquisition, the chief executive officer owned 2,457,923 shares in the company, valued at $10,864,019.66. This represents a 0.95% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 6.30% of the company’s stock.

Institutional Investors Weigh In On PowerFleet

Large investors have recently bought and sold shares of the business. State of Alaska Department of Revenue bought a new stake in PowerFleet in the third quarter worth $31,000. CWM LLC boosted its holdings in PowerFleet by 784.9% in the third quarter. CWM LLC now owns 6,203 shares of the company’s stock worth $33,000 after purchasing an additional 5,502 shares in the last quarter. Virtu Financial LLC bought a new stake in PowerFleet in the first quarter worth $62,000. Brookwood Investment Group LLC bought a new stake in PowerFleet in the third quarter worth $59,000. Finally, BNP Paribas Financial Markets boosted its holdings in PowerFleet by 100.9% in the second quarter. BNP Paribas Financial Markets now owns 11,756 shares of the company’s stock worth $51,000 after purchasing an additional 5,904 shares in the last quarter. 73.40% of the stock is currently owned by institutional investors.

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.