Powerfleet (NASDAQ:AIOT) Receives “Outperform” Rating from Barrington Research

Barrington Research reiterated their outperform rating on shares of Powerfleet (NASDAQ:AIOT) in a research note published on Thursday morning,Benzinga reports. Barrington Research currently has a $15.00 target price on the stock.

A number of other equities analysts have also issued reports on the stock. William Blair reaffirmed an “outperform” rating on shares of Powerfleet in a research report on Thursday, November 21st. Northland Securities boosted their target price on shares of Powerfleet from $8.00 to $10.00 and gave the stock an “outperform” rating in a research report on Friday, November 22nd.

Powerfleet Trading Up 1.8 %

Shares of AIOT opened at $6.10 on Thursday. The firm’s 50 day moving average price is $6.45 and its 200 day moving average price is $5.60. The company has a quick ratio of 1.51, a current ratio of 1.71 and a debt-to-equity ratio of 0.25. Powerfleet has a twelve month low of $2.85 and a twelve month high of $7.38.

Powerfleet (NASDAQ:AIOT) last released 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 the consensus estimate of $74.54 million. During the same quarter last year, the company posted ($0.14) earnings per share. As a group, equities research analysts forecast that Powerfleet will post -0.14 EPS for the current year.

Insiders Place Their Bets

In other news, insider Catherine J. Lewis sold 82,010 shares of the business’s stock in a transaction on Thursday, December 5th. The shares were sold at an average price of $7.05, for a total value of $578,170.50. Following the sale, the insider now owns 240,962 shares in the company, valued at approximately $1,698,782.10. The trade was a 25.39 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 7.79% of the company’s stock.

Institutional Investors Weigh In On Powerfleet

Institutional investors and hedge funds have recently made changes to their positions in the company. AEGON ASSET MANAGEMENT UK Plc acquired a new stake in shares of Powerfleet in the 4th quarter valued at $11,034,000. Kopion Asset Management LLC acquired a new stake in shares of Powerfleet in the 4th quarter valued at $7,361,000. Hodges Capital Management Inc. acquired a new stake in shares of Powerfleet in the 4th quarter valued at $10,982,000. Inspire Investing LLC acquired a new stake in shares of Powerfleet in the 4th quarter valued at $398,000. Finally, Yarbrough Capital LLC acquired a new stake in shares of Powerfleet in the 4th quarter valued at $372,000. Institutional investors and hedge funds 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.