Powerfleet (NASDAQ:AIOT) Stock Price Down 5.6%

Powerfleet, Inc. (NASDAQ:AIOT) fell 5.6% during mid-day trading on Monday . The stock traded as low as $4.66 and last traded at $4.68. 499,168 shares were traded during trading, a decline of 37% from the average session volume of 790,116 shares. The stock had previously closed at $4.96.

Wall Street Analyst Weigh In

Separately, Barrington Research restated an “outperform” rating and set a $10.00 target price on shares of Powerfleet in a research report on Thursday, August 22nd.

Powerfleet Price Performance

The business’s 50-day moving average is $4.76. The company has a quick ratio of 0.99, a current ratio of 1.23 and a debt-to-equity ratio of 0.29. The firm has a market cap of $512.06 million, a P/E ratio of -16.00 and a beta of 1.68.

Powerfleet (NASDAQ:AIOT) last announced its earnings results on Thursday, August 22nd. The company reported ($0.21) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.08) by ($0.13). Powerfleet had a negative net margin of 3.86% and a negative return on equity of 6.61%. The business had revenue of $75.43 million for the quarter, compared to the consensus estimate of $71.13 million. As a group, analysts forecast that Powerfleet, Inc. will post -0.16 EPS for the current fiscal year.

About Powerfleet

PowerFleet, Inc provides wireless Internet-of-Things asset management solutions in the United States, Israel, and internationally. The company offers real-time intelligence for organizations to capture IoT data from various types of assets with devices and sensors to increase efficiencies, and improve safety and security, as well as increase their profitability in easy-to-understand reports, dashboards, and real-time alerts; and application programming interfaces for additional integrations and development to boost other enterprise management systems and third-party applications.