Powerfleet (NASDAQ:AIOT) Receives “Outperform” Rating from Barrington Research

Powerfleet (NASDAQ:AIOT)‘s stock had its “outperform” rating reissued by Barrington Research in a report issued on Thursday,Benzinga reports. They presently have a $15.00 target price on the stock. Barrington Research’s price target would indicate a potential upside of 150.42% from the company’s current price.

Several other research firms have also recently issued reports on AIOT. William Blair reaffirmed an “outperform” rating on shares of Powerfleet in a report on Thursday, November 21st. Northland Securities increased their price target on shares of Powerfleet from $8.00 to $10.00 and gave the stock an “outperform” rating in a research report on Friday, November 22nd.

Powerfleet Trading Down 0.3 %

Shares of AIOT stock opened at $5.99 on Thursday. 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’s fifty day moving average price is $6.47 and its two-hundred day moving average price is $5.59. Powerfleet has a 12 month low of $2.85 and a 12 month high of $7.38.

Powerfleet (NASDAQ:AIOT) last released its quarterly earnings results on Tuesday, November 12th. The company reported ($0.02) EPS for the quarter, missing the consensus estimate of ($0.01) by ($0.01). The company had revenue of $77.02 million during the quarter, compared to analyst estimates of $74.54 million. During the same quarter last year, the business posted ($0.14) EPS. On average, research analysts anticipate that Powerfleet will post -0.14 earnings per share for the current fiscal year.

Insider Buying and Selling at Powerfleet

In other Powerfleet news, insider Catherine J. Lewis sold 82,010 shares of the stock in a transaction on Thursday, December 5th. The stock was sold at an average price of $7.05, for a total value of $578,170.50. Following the sale, the insider now directly owns 240,962 shares of the company’s stock, valued at $1,698,782.10. This trade represents a 25.39 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 7.79% of the stock is owned by insiders.

Institutional Trading of Powerfleet

Hedge funds have recently bought and sold shares of the company. Private Management Group Inc. acquired a new stake in Powerfleet in the 4th quarter valued at about $23,147,000. AEGON ASSET MANAGEMENT UK Plc bought a new stake in shares of Powerfleet in the 4th quarter worth approximately $11,034,000. Hodges Capital Management Inc. acquired a new stake in Powerfleet during the fourth quarter valued at approximately $10,982,000. AMH Equity Ltd bought a new stake in Powerfleet during the fourth quarter worth approximately $7,819,000. Finally, Kopion Asset Management LLC acquired a new position in Powerfleet in the fourth quarter worth approximately $7,361,000. 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.