Powerfleet (NASDAQ:AIOT) Trading 4.4% Higher – Here’s Why

Shares of Powerfleet, Inc. (NASDAQ:AIOT) traded up 4.4% during trading on Wednesday . The stock traded as high as $5.31 and last traded at $5.24. 249,600 shares traded hands during mid-day trading, a decline of 69% from the average session volume of 793,236 shares. The stock had previously closed at $5.02.

Analyst Upgrades and Downgrades

Separately, Barrington Research reaffirmed an “outperform” rating and issued a $10.00 price target on shares of Powerfleet in a research note on Thursday, October 3rd.

Powerfleet Trading Up 2.1 %

The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.99 and a current ratio of 1.23. The business has a fifty day moving average price of $4.84.

Powerfleet (NASDAQ:AIOT) last issued 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). The business had revenue of $75.43 million for the quarter, compared to the consensus estimate of $71.13 million. On average, equities analysts anticipate that Powerfleet, Inc. will post -0.13 earnings per share for the current year.

Powerfleet Company Profile

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.