Powerfleet (NASDAQ:AIOT) Sets New 1-Year High – Time to Buy?

Powerfleet, Inc. (NASDAQ:AIOT)’s stock price hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $7.45 and last traded at $7.26, with a volume of 1227183 shares trading hands. The stock had previously closed at $5.95.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. Barrington Research restated an “outperform” rating and set a $15.00 price objective on shares of Powerfleet in a research report on Thursday, February 6th. William Blair reissued an “outperform” rating on shares of Powerfleet in a research note on Thursday, November 21st. Northland Securities upped their price target on Powerfleet from $10.00 to $11.00 and gave the company an “outperform” rating in a research note on Tuesday. Finally, Lake Street Capital increased their price target on Powerfleet from $7.00 to $11.00 and gave the stock a “buy” rating in a report on Tuesday.

Powerfleet Trading Up 9.1 %

The company has a quick ratio of 1.51, a current ratio of 1.71 and a debt-to-equity ratio of 0.25. The firm’s fifty day moving average price is $6.42 and its 200 day moving average price is $5.64.

Powerfleet (NASDAQ:AIOT) last released its quarterly earnings results on Monday, February 10th. The company reported ($0.11) EPS for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.13). Equities analysts expect that Powerfleet, Inc. will post -0.14 earnings per share for the current year.

Insider Activity at Powerfleet

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

Hedge Funds Weigh In On Powerfleet

Several institutional investors have recently modified their holdings of the business. Vanguard Group Inc. acquired a new stake in Powerfleet in the fourth quarter valued at approximately $43,134,000. Royce & Associates LP purchased a new stake in shares of Powerfleet in the 4th quarter valued at approximately $24,487,000. Private Management Group Inc. purchased a new stake in shares of Powerfleet in the 4th quarter valued at approximately $23,147,000. AEGON ASSET MANAGEMENT UK Plc acquired a new stake in shares of Powerfleet in the 4th quarter valued at $11,034,000. Finally, Hodges Capital Management Inc. purchased a new stake in shares of Powerfleet during the 4th quarter worth $10,982,000. Institutional investors and hedge funds own 73.40% of the company’s stock.

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.