Shares of Powerfleet, Inc. (NASDAQ:AIOT - Get Free Report) shot up 8.5% during trading on Monday . The stock traded as high as $4.78 and last traded at $4.63. 726,291 shares traded hands during trading, a decline of 52% from the average session volume of 1,517,562 shares. The stock had previously closed at $4.27.
Wall Street Analyst Weigh In
AIOT has been the topic of a number of analyst reports. Lake Street Capital lifted their price objective on shares of Powerfleet from $7.00 to $11.00 and gave the stock a "buy" rating in a research report on Tuesday, February 11th. Barrington Research reaffirmed an "outperform" rating and issued a $15.00 price target on shares of Powerfleet in a report on Thursday, February 13th. Finally, Northland Securities increased their price objective on Powerfleet from $10.00 to $11.00 and gave the company an "outperform" rating in a report on Tuesday, February 11th.
Read Our Latest Stock Report on Powerfleet
Powerfleet Stock Up 3.9 %
The company has a debt-to-equity ratio of 0.51, a current ratio of 1.21 and a quick ratio of 1.02. The business's 50 day moving average is $6.23 and its 200 day moving average is $6.10.
Powerfleet (NASDAQ:AIOT - Get Free Report) last posted its quarterly earnings data on Monday, February 10th. The company reported ($0.11) EPS for the quarter, missing the consensus estimate of $0.02 by ($0.13). As a group, equities research analysts forecast that Powerfleet, Inc. will post -0.32 EPS for the current fiscal year.
Institutional Inflows and Outflows
Several institutional investors have recently modified their holdings of the company. Private Capital Management LLC purchased a new position in shares of Powerfleet during the fourth quarter worth $45,504,000. Vanguard Group Inc. acquired a new stake in Powerfleet during the 4th quarter worth about $43,134,000. AWM Investment Company Inc. purchased a new position in shares of Powerfleet during the 4th quarter valued at about $31,000,000. Ontario Teachers Pension Plan Board acquired a new position in shares of Powerfleet in the 4th quarter valued at about $28,543,000. Finally, 325 Capital LLC acquired a new position in Powerfleet in the fourth quarter valued at approximately $24,737,000. 73.40% of the stock is currently owned by hedge funds and other institutional investors.
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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