Powerfleet (NASDAQ:AIOT) Trading Down 4.1% – What’s Next?

Powerfleet, Inc. (NASDAQ:AIOT) shares traded down 4.1% during mid-day trading on Thursday . The company traded as low as $6.37 and last traded at $6.39. 556,047 shares changed hands during trading, a decline of 44% from the average session volume of 987,878 shares. The stock had previously closed at $6.66.

Analysts Set New Price Targets

Several research firms have recently commented on AIOT. Northland Securities boosted their price target on shares of Powerfleet from $8.00 to $10.00 and gave the company an “outperform” rating in a report on Friday, November 22nd. Barrington Research upped their target price on Powerfleet from $10.00 to $15.00 and gave the stock an “outperform” rating in a report on Friday, November 22nd. Finally, William Blair reiterated an “outperform” rating on shares of Powerfleet in a report on Thursday, November 21st.

Powerfleet Stock Down 3.9 %

The company has a current ratio of 1.71, a quick ratio of 1.51 and a debt-to-equity ratio of 0.25. The company has a 50 day simple moving average of $6.31.

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

Insider Buying and Selling

In other news, insider Catherine J. Lewis sold 82,010 shares of Powerfleet 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 sale, the insider now owns 240,962 shares of the company’s stock, valued at approximately $1,698,782.10. The trade was a 25.39 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 7.79% of the stock is owned by insiders.

About Powerfleet

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.