Powerfleet (NASDAQ:AIOT) Posts Quarterly Earnings Results

Powerfleet (NASDAQ:AIOT) issued its quarterly earnings results on Monday. The company reported ($0.11) EPS for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.13), Zacks reports.

Powerfleet Stock Down 2.5 %

AIOT stock opened at $5.95 on Monday. The firm has a 50 day moving average of $6.40 and a 200-day moving average of $5.61. Powerfleet has a 12 month low of $2.85 and a 12 month high of $7.38. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.51 and a current ratio of 1.71.

Wall Street Analyst Weigh In

Several research firms have commented on AIOT. Northland Securities upped their price objective on shares of Powerfleet from $8.00 to $10.00 and gave the company an “outperform” rating in a report on Friday, November 22nd. Barrington Research restated an “outperform” rating and set a $15.00 price target on shares of Powerfleet in a research note on Thursday. Finally, William Blair reiterated an “outperform” rating on shares of Powerfleet in a research note on Thursday, November 21st.

Insider Buying and Selling

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 transaction of $578,170.50. Following the completion of the transaction, the insider now directly owns 240,962 shares in the company, valued at $1,698,782.10. The trade was a 25.39 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 7.79% of the stock is currently owned by insiders.

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.