Powerfleet's (AIOT) Outperform Rating Reaffirmed at Barrington Research

Powerfleet (NASDAQ:AIOT - Get Free Report)'s stock had its "outperform" rating reiterated by stock analysts at Barrington Research in a note issued to investors 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 92.43% from the stock's current price.

AIOT has been the subject of several other reports. William Blair reissued an "outperform" rating on shares of Powerfleet in a report on Thursday, November 21st. Northland Securities lifted their target price on Powerfleet from $8.00 to $10.00 and gave the stock an "outperform" rating in a report on Friday, November 22nd.

Powerfleet Trading Up 31.0 %

Shares of AIOT traded up $1.85 during trading hours on Thursday, hitting $7.80. The company had a trading volume of 8,916,342 shares, compared to its average volume of 2,037,069. The business has a fifty day moving average of $6.40 and a 200-day moving average of $5.62. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.71 and a quick ratio of 1.51. Powerfleet has a 12 month low of $2.85 and a 12 month high of $8.26.

Powerfleet (NASDAQ:AIOT - Get Free Report) last released its quarterly earnings results on Monday, February 10th. The company reported ($0.11) earnings per share for the quarter, missing the consensus estimate of $0.02 by ($0.13). As a group, analysts predict that Powerfleet will post -0.14 earnings per share for the current year.

Insider Transactions at Powerfleet

In related news, insider Catherine J. Lewis sold 82,010 shares of the firm's 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 transaction, the insider now owns 240,962 shares in the company, valued at approximately $1,698,782.10. This trade represents a 25.39 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 7.79% of the company's stock.

Institutional Investors Weigh In On Powerfleet

Large investors have recently bought and sold shares of the company. Royce & Associates LP acquired a new position in shares of Powerfleet in the 4th quarter valued at approximately $24,487,000. Private Management Group Inc. bought a new stake in shares of Powerfleet during the 4th quarter valued at approximately $23,147,000. AEGON ASSET MANAGEMENT UK Plc bought a new position in Powerfleet in the fourth quarter valued at about $11,034,000. Hodges Capital Management Inc. acquired a new stake in shares of Powerfleet during the fourth quarter valued at about $10,982,000. Finally, AMH Equity Ltd bought a new stake in shares of Powerfleet during the fourth quarter worth about $7,819,000. 73.40% of the stock is currently owned by institutional investors and hedge funds.

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.