Powerfleet (NASDAQ:AIOT) Sees Strong Trading Volume – Here’s Why

Powerfleet, Inc. (NASDAQ:AIOT) shares saw strong trading volume on Tuesday . 1,434,295 shares changed hands during trading, an increase of 68% from the previous session’s volume of 855,066 shares.The stock last traded at $6.49 and had previously closed at $6.30.

Wall Street Analysts Forecast Growth

Separately, Barrington Research reissued an “outperform” rating and set a $10.00 price target on shares of Powerfleet in a report on Monday, November 11th.

Powerfleet Stock Performance

The stock has a 50 day moving average price of $5.18. 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 announced its quarterly earnings data on Tuesday, November 12th. The company reported ($0.02) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.01) by ($0.01). The business had revenue of $77.02 million for the quarter, compared to the consensus estimate of $74.54 million. During the same quarter in the prior year, the company earned ($0.14) earnings per share. As a group, equities 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.