Powerfleet (NASDAQ:AIOT) Stock Price Up 5.6% on Analyst Upgrade

Powerfleet, Inc. (NASDAQ:AIOT)’s share price was up 5.6% on Friday after Barrington Research raised their price target on the stock from $10.00 to $15.00. Barrington Research currently has an outperform rating on the stock. Powerfleet traded as high as $7.23 and last traded at $7.01. Approximately 1,198,983 shares traded hands during mid-day trading, an increase of 37% from the average daily volume of 874,178 shares. The stock had previously closed at $6.64.

AIOT has been the subject of several other reports. William Blair reaffirmed an “outperform” rating on shares of Powerfleet in a research note on Thursday. Northland Securities upped their price objective on shares of Powerfleet from $8.00 to $10.00 and gave the company an “outperform” rating in a research note on Friday.

Powerfleet Trading Up 7.1 %

The company’s fifty day moving average is $5.30. The company has a current ratio of 1.71, a quick ratio of 1.51 and a debt-to-equity ratio of 0.25.

Powerfleet (NASDAQ:AIOT) last posted its quarterly earnings results on Tuesday, November 12th. The company reported ($0.02) EPS for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.01). The firm had revenue of $77.02 million for the quarter, compared to analysts’ expectations of $74.54 million. During the same quarter last year, the firm posted ($0.14) EPS. As a group, sell-side analysts forecast that Powerfleet, Inc. will post -0.13 EPS for the current 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.