Powerfleet (NASDAQ:AIOT) Given Outperform Rating at Barrington Research

Barrington Research reissued their outperform rating on shares of Powerfleet (NASDAQ:AIOT - Free Report) in a research note published on Thursday,Benzinga reports. They currently have a $15.00 price target on the stock.

Several other equities research analysts have also recently weighed in on AIOT. Lake Street Capital upped their target price on Powerfleet from $7.00 to $11.00 and gave the stock a "buy" rating in a report on Tuesday, February 11th. Northland Securities upped their target price on Powerfleet from $10.00 to $11.00 and gave the stock an "outperform" rating in a report on Tuesday, February 11th. Finally, William Blair reiterated an "outperform" rating on shares of Powerfleet in a report on Thursday, November 21st.

Powerfleet Price Performance

AIOT traded up $0.03 during trading hours on Thursday, reaching $8.10. 1,633,137 shares of the company's stock traded hands, compared to its average volume of 1,534,284. The firm has a 50-day moving average price of $6.52 and a 200 day moving average price of $5.74. Powerfleet has a 52-week low of $2.85 and a 52-week high of $8.71. 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 (NASDAQ:AIOT - Get Free Report) last posted its quarterly earnings data 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). As a group, research analysts predict that Powerfleet will post -0.14 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Catherine J. Lewis sold 82,010 shares of the company's stock in a transaction on Thursday, December 5th. The stock was sold at an average price of $7.05, for a total transaction of $578,170.50. Following the completion of the sale, the insider now directly owns 240,962 shares in the company, valued at $1,698,782.10. This represents a 25.39 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. 7.79% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Powerfleet

A number of hedge funds have recently made changes to their positions in AIOT. Signaturefd LLC acquired a new position in Powerfleet during the 4th quarter valued at about $25,000. Comerica Bank acquired a new position in Powerfleet during the 4th quarter valued at about $42,000. Financial Management Professionals Inc. acquired a new position in Powerfleet during the 4th quarter valued at about $50,000. Spire Wealth Management acquired a new position in Powerfleet during the 4th quarter valued at about $55,000. Finally, Legal & General Group Plc acquired a new position in Powerfleet during the 4th quarter valued at about $58,000. 73.40% of the stock is currently owned by hedge funds and other institutional investors.

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.