PowerFleet (NASDAQ:AIOT) Given “Outperform” Rating at Barrington Research

PowerFleet (NASDAQ:AIOT)‘s stock had its “outperform” rating reissued by Barrington Research in a research report issued to clients and investors on Friday,Benzinga reports. They presently have a $15.00 target price on the stock. Barrington Research’s target price would suggest a potential upside of 213.81% from the stock’s current price.

A number of other brokerages have also weighed in on AIOT. Wall Street Zen lowered PowerFleet from a “hold” rating to a “sell” rating in a research report on Sunday, November 2nd. Zacks Research raised PowerFleet from a “strong sell” rating to a “hold” rating in a research note on Monday, October 13th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of PowerFleet in a research report on Wednesday, October 8th. Five investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $10.50.

PowerFleet Trading Down 3.2%

Shares of AIOT stock opened at $4.78 on Friday. The stock has a 50 day simple moving average of $5.15 and a 200 day simple moving average of $4.85. PowerFleet has a 1 year low of $3.70 and a 1 year high of $8.71. 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 stock has a market cap of $637.86 million, a P/E ratio of -15.93 and a beta of 1.35.

Insider Transactions at PowerFleet

In related news, Director Michael J. Mcconnell purchased 10,000 shares of the firm’s stock in a transaction dated Monday, August 18th. The stock was purchased at an average price of $4.64 per share, with a total value of $46,400.00. Following the completion of the purchase, the director owned 28,028 shares of the company’s stock, valued at approximately $130,049.92. The trade was a 55.47% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Steven Mark Towe bought 23,157 shares of the firm’s stock in a transaction that occurred on Thursday, August 14th. The shares were purchased at an average cost of $4.42 per share, with a total value of $102,353.94. Following the transaction, the chief executive officer directly owned 2,457,923 shares of the company’s stock, valued at $10,864,019.66. The trade was a 0.95% 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.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of AIOT. Teacher Retirement System of Texas purchased a new stake in PowerFleet during the 1st quarter valued at about $95,000. Bank of New York Mellon Corp boosted its position in shares of PowerFleet by 8.8% during the 1st quarter. Bank of New York Mellon Corp now owns 268,639 shares of the company’s stock worth $1,475,000 after purchasing an additional 21,785 shares during the period. Brown Advisory Inc. purchased a new position in shares of PowerFleet during the first quarter worth $240,000. Arizona State Retirement System acquired a new stake in shares of PowerFleet during the first quarter worth about $187,000. Finally, Schwarz Dygos Wheeler Investment Advisors LLC purchased a new stake in PowerFleet during the 1st quarter worth approximately $2,668,000. Institutional investors and hedge funds own 73.40% of the company’s stock.

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.