Northland Securities Forecasts Strong Price Appreciation for Powerfleet (NASDAQ:AIOT) Stock

Powerfleet (NASDAQ:AIOT - Free Report) had its target price boosted by Northland Securities from $10.00 to $11.00 in a research report released on Tuesday morning,Benzinga reports. They currently have an outperform rating on the stock.

Several other equities research analysts have also recently weighed in on the stock. William Blair reaffirmed an "outperform" rating on shares of Powerfleet in a research report on Thursday, November 21st. Barrington Research reaffirmed an "outperform" rating and set a $15.00 price objective on shares of Powerfleet in a research report on Thursday, February 6th.

Powerfleet Price Performance

Shares of Powerfleet stock traded up $0.01 during trading on Tuesday, reaching $8.08. The company's stock had a trading volume of 1,171,170 shares, compared to its average volume of 2,322,187. The business's 50-day moving average price is $6.50 and its 200-day moving average price is $5.70. Powerfleet has a 52 week low of $2.85 and a 52 week high of $8.71. The company has a current ratio of 1.71, a quick ratio of 1.51 and a debt-to-equity ratio of 0.25.

Powerfleet (NASDAQ:AIOT - Get Free Report) last announced its earnings results on Monday, February 10th. The company reported ($0.11) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.02 by ($0.13). On average, research analysts predict that Powerfleet will post -0.14 earnings per share for the current year.

Insider Activity

In other news, insider Catherine J. Lewis sold 82,010 shares of the company's stock in a transaction that occurred 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 completion of the transaction, the insider now owns 240,962 shares of the company's stock, valued at $1,698,782.10. This represents a 25.39 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 7.79% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. bought a new position in Powerfleet during the 4th quarter worth approximately $43,134,000. Ontario Teachers Pension Plan Board bought a new position in Powerfleet during the 4th quarter worth approximately $28,543,000. Royce & Associates LP acquired a new stake in shares of Powerfleet during the 4th quarter worth approximately $24,487,000. Private Management Group Inc. acquired a new stake in shares of Powerfleet during the 4th quarter worth approximately $23,147,000. Finally, Geode Capital Management LLC acquired a new stake in shares of Powerfleet during the 4th quarter worth approximately $15,938,000. Institutional investors own 73.40% of the company's stock.

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.