Powerfleet (NASDAQ:AIOT) Shares Gap Down – What’s Next?

Shares of Powerfleet, Inc. (NASDAQ:AIOT) gapped down prior to trading on Tuesday . The stock had previously closed at $5.49, but opened at $4.89. Powerfleet shares last traded at $4.99, with a volume of 415,360 shares trading hands.

Wall Street Analyst Weigh In

Separately, Barrington Research reaffirmed an “outperform” rating and set a $10.00 price target on shares of Powerfleet in a report on Monday.

Powerfleet Stock Down 6.2 %

The company has a debt-to-equity ratio of 0.29, a current ratio of 1.23 and a quick ratio of 0.99. The business’s fifty day moving average price is $5.05.

Powerfleet (NASDAQ:AIOT) last posted its quarterly earnings data 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 during the quarter, compared to the consensus estimate of $71.13 million. As a group, equities research analysts forecast that Powerfleet, Inc. will post -0.13 earnings per share for the current fiscal 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.