Powerfleet, Inc. (NASDAQ:AIOT - Get Free Report)'s share price traded down 18% during trading on Friday . The company traded as low as $4.19 and last traded at $3.94. 551,528 shares changed hands during trading, a decline of 63% from the average session volume of 1,487,220 shares. The stock had previously closed at $4.80.
Analyst Ratings Changes
Several equities analysts recently weighed in on AIOT shares. Northland Securities increased their price target on shares of Powerfleet from $10.00 to $11.00 and gave the stock an "outperform" rating in a report on Tuesday, February 11th. Lake Street Capital increased their price objective on shares of Powerfleet from $7.00 to $11.00 and gave the stock a "buy" rating in a research note on Tuesday, February 11th. Finally, Barrington Research reissued an "outperform" rating and set a $15.00 target price on shares of Powerfleet in a report on Thursday, February 13th.
Get Our Latest Stock Report on Powerfleet
Powerfleet Price Performance
The firm has a 50-day moving average of $6.32 and a two-hundred day moving average of $6.10. The company has a current ratio of 1.21, a quick ratio of 1.02 and a debt-to-equity ratio of 0.51.
Powerfleet (NASDAQ:AIOT - Get Free Report) last posted its 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, equities analysts predict that Powerfleet, Inc. will post -0.32 earnings per share for the current year.
Institutional Inflows and Outflows
A number of large investors have recently modified their holdings of the company. Signaturefd LLC purchased a new position in shares of Powerfleet in the 4th quarter valued at about $25,000. Comerica Bank acquired a new stake in Powerfleet in the fourth quarter valued at approximately $42,000. NBC Securities Inc. acquired a new stake in Powerfleet in the first quarter valued at approximately $36,000. California State Teachers Retirement System purchased a new stake in shares of Powerfleet in the fourth quarter valued at approximately $46,000. Finally, Financial Management Professionals Inc. acquired a new position in shares of Powerfleet during the 4th quarter worth approximately $50,000. Institutional investors and hedge funds own 73.40% of the company's stock.
About Powerfleet
(
Get Free Report)
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.
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