Lake Street Capital Issues Positive Forecast for Powerfleet (NASDAQ:AIOT) Stock Price

Powerfleet (NASDAQ:AIOT - Free Report) had its target price boosted by Lake Street Capital from $7.00 to $11.00 in a research report released on Tuesday morning,Benzinga reports. They currently have a buy rating on the stock.

A number of other equities research analysts have also recently issued reports on AIOT. Northland Securities boosted their target price on shares of Powerfleet from $10.00 to $11.00 and gave the company an "outperform" rating in a research report on Tuesday. Barrington Research reissued an "outperform" rating and issued a $15.00 target price 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 research report on Thursday, November 21st.

Powerfleet Trading Up 0.4 %

AIOT stock traded up $0.03 during midday trading on Tuesday, reaching $8.10. 1,171,170 shares of the company were exchanged, compared to its average volume of 2,322,187. 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 business has a 50-day moving average price of $6.50 and a two-hundred day moving average price of $5.70. Powerfleet has a one year low of $2.85 and a one year high of $8.71.

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). Research analysts anticipate that Powerfleet will post -0.14 earnings per share for the current year.

Insider Activity at Powerfleet

In related news, insider Catherine J. Lewis sold 82,010 shares of the business's stock in a transaction dated 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. The trade was a 25.39 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 7.79% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Signaturefd LLC acquired a new position in Powerfleet during the fourth quarter worth about $25,000. Financial Management Professionals Inc. acquired a new position in Powerfleet during the fourth quarter worth about $50,000. Spire Wealth Management acquired a new position in Powerfleet during the fourth quarter worth about $55,000. Legal & General Group Plc acquired a new position in Powerfleet during the fourth quarter worth about $58,000. Finally, Ameritas Investment Partners Inc. acquired a new position in Powerfleet during the fourth quarter worth about $59,000. Institutional investors and hedge funds 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.