Powerfleet (NASDAQ:AIOT) Earns Outperform Rating from Barrington Research

Powerfleet (NASDAQ:AIOT)‘s stock had its “outperform” rating reissued by stock analysts at Barrington Research in a report issued on Thursday,Benzinga reports. They currently have a $15.00 price target on the stock. Barrington Research’s target price points to a potential upside of 152.10% from the stock’s previous close.

A number of other equities research analysts have also recently weighed in on the company. Northland Securities increased their price target on Powerfleet from $8.00 to $10.00 and gave the company an “outperform” rating in a research note on Friday, November 22nd. William Blair restated an “outperform” rating on shares of Powerfleet in a research note on Thursday, November 21st.

Powerfleet Stock Performance

NASDAQ AIOT opened at $5.95 on Thursday. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.71 and a quick ratio of 1.51. Powerfleet has a 12 month low of $2.85 and a 12 month high of $7.38. The stock has a 50 day moving average of $6.43 and a 200-day moving average of $5.60.

Powerfleet (NASDAQ:AIOT) last released its quarterly earnings data on Tuesday, November 12th. The company reported ($0.02) EPS for the quarter, missing the consensus estimate of ($0.01) by ($0.01). The firm had revenue of $77.02 million during the quarter, compared to the consensus estimate of $74.54 million. During the same period in the previous year, the firm posted ($0.14) earnings per share. As a group, equities analysts expect that Powerfleet will post -0.14 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Powerfleet news, insider Catherine J. Lewis sold 82,010 shares of the stock in a transaction on Thursday, December 5th. The stock was sold at an average price of $7.05, for a total transaction of $578,170.50. Following the transaction, the insider now owns 240,962 shares in the company, valued at $1,698,782.10. This trade represents a 25.39 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 7.79% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. Financial Management Professionals Inc. bought a new position in Powerfleet during the 4th quarter worth $50,000. Spire Wealth Management bought a new position in shares of Powerfleet in the fourth quarter worth $55,000. Private Advisor Group LLC bought a new position in shares of Powerfleet in the fourth quarter worth $68,000. HighTower Advisors LLC bought a new position in shares of Powerfleet in the fourth quarter worth $84,000. Finally, Victory Capital Management Inc. bought a new position in shares of Powerfleet in the fourth quarter worth $103,000. Institutional investors 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.