Powerfleet (NASDAQ:AIOT) Reaches New 1-Year Low – Time to Sell?

Powerfleet, Inc. (NASDAQ:AIOT)’s stock price hit a new 52-week low during trading on Saturday . The stock traded as low as $3.70 and last traded at $4.27, with a volume of 7720566 shares trading hands. The stock had previously closed at $4.80.

Analyst Ratings Changes

AIOT has been the topic of several recent analyst reports. Lake Street Capital raised their target price on Powerfleet from $7.00 to $11.00 and gave the stock a “buy” rating in a research note on Tuesday, February 11th. Northland Securities increased their price objective on Powerfleet from $10.00 to $11.00 and gave the stock an “outperform” rating in a report on Tuesday, February 11th. Finally, Barrington Research reissued an “outperform” rating and set a $15.00 target price on shares of Powerfleet in a research note on Thursday, February 13th.

Powerfleet Stock Performance

The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.02 and a current ratio of 1.21. The business’s 50 day moving average price is $6.42 and its two-hundred day moving average price is $6.12.

Powerfleet (NASDAQ:AIOT) last issued 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). Research analysts expect that Powerfleet, Inc. will post -0.32 EPS for the current year.

Institutional Investors Weigh In On Powerfleet

Several hedge funds and other institutional investors have recently added to or reduced their stakes in AIOT. Signaturefd LLC bought a new stake in shares of Powerfleet during the 4th quarter valued at $25,000. Comerica Bank bought a new stake in Powerfleet during the fourth quarter worth about $42,000. California State Teachers Retirement System purchased a new stake in Powerfleet in the fourth quarter worth about $46,000. Financial Management Professionals Inc. purchased a new stake in Powerfleet in the fourth quarter worth about $50,000. Finally, Spire Wealth Management bought a new position in shares of Powerfleet during the fourth quarter valued at approximately $55,000. 73.40% of the stock is owned by hedge funds and other institutional investors.

About Powerfleet

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.