Powerfleet, Inc. (NASDAQ:AIOT - Get Free Report)'s stock price was up 8.6% on Tuesday after Lake Street Capital raised their price target on the stock from $7.00 to $11.00. Lake Street Capital currently has a buy rating on the stock. Powerfleet traded as high as $8.43 and last traded at $8.47. Approximately 910,251 shares traded hands during mid-day trading, a decline of 55% from the average daily volume of 2,035,969 shares. The stock had previously closed at $7.80.
Other research analysts have also recently issued research reports about the stock. Northland Securities raised their target price on shares of Powerfleet from $10.00 to $11.00 and gave the stock an "outperform" rating in a report on Tuesday. Barrington Research reaffirmed an "outperform" rating and set a $15.00 price target on shares of Powerfleet in a research report on Thursday, February 6th. Finally, William Blair reissued an "outperform" rating on shares of Powerfleet in a report on Thursday, November 21st.
Check Out Our Latest Analysis on AIOT
Insider Activity at Powerfleet
In other Powerfleet news, insider Catherine J. Lewis sold 82,010 shares of Powerfleet stock in a transaction on Thursday, December 5th. The shares were 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 approximately $1,698,782.10. The trade was a 25.39 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 7.79% of the company's stock.
Institutional Investors Weigh In On Powerfleet
A number of institutional investors have recently modified their holdings of the business. Kopion Asset Management LLC purchased a new position in Powerfleet during the fourth quarter worth approximately $7,361,000. Yarbrough Capital LLC acquired a new position in shares of Powerfleet during the 4th quarter worth approximately $372,000. Financial Management Professionals Inc. acquired a new stake in Powerfleet in the 4th quarter valued at $50,000. SG Americas Securities LLC purchased a new stake in Powerfleet in the 4th quarter worth $228,000. Finally, Inspire Investing LLC purchased a new stake in Powerfleet in the 4th quarter worth $398,000. 73.40% of the stock is currently owned by institutional investors and hedge funds.
Powerfleet Stock Up 0.4 %
The company has a current ratio of 1.71, a quick ratio of 1.51 and a debt-to-equity ratio of 0.25. The stock's 50-day simple moving average is $6.50 and its two-hundred day simple moving average is $5.70.
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, equities research analysts predict that Powerfleet, Inc. will post -0.14 EPS for the current year.
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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