Powerfleet’s (AIOT) “Outperform” Rating Reaffirmed at Barrington Research

Barrington Research reiterated their outperform rating on shares of Powerfleet (NASDAQ:AIOT) in a report issued on Thursday morning,Benzinga reports. The brokerage currently has a $15.00 price objective on the stock.

A number of other equities analysts have also recently commented on the company. William Blair restated an “outperform” rating on shares of Powerfleet in a report on Thursday, November 21st. Lake Street Capital raised their price objective on shares of Powerfleet from $7.00 to $11.00 and gave the company a “buy” rating in a research note on Tuesday. Finally, Northland Securities lifted their price objective on shares of Powerfleet from $10.00 to $11.00 and gave the company an “outperform” rating in a report on Tuesday.

Powerfleet Stock Up 2.4 %

Shares of AIOT opened at $8.07 on Thursday. The company’s 50-day moving average price is $6.47 and its 200 day moving average price is $5.68. Powerfleet has a 12-month low of $2.85 and a 12-month high of $8.71. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.51 and a current ratio of 1.71.

Powerfleet (NASDAQ:AIOT) last issued its quarterly earnings data on Monday, February 10th. The company reported ($0.11) EPS for the quarter, missing the consensus estimate of $0.02 by ($0.13). Equities research analysts expect that Powerfleet will post -0.14 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Catherine J. Lewis sold 82,010 shares of Powerfleet stock in a transaction dated Thursday, December 5th. The stock was sold at an average price of $7.05, for a total value of $578,170.50. Following the completion of the transaction, the insider now owns 240,962 shares in the company, valued at approximately $1,698,782.10. This trade represents a 25.39 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 7.79% of the stock is owned by company insiders.

Institutional Trading of Powerfleet

Several hedge funds have recently added to or reduced their stakes in AIOT. Vanguard Group Inc. purchased a new stake in shares of Powerfleet in the 4th quarter valued at approximately $43,134,000. Ontario Teachers Pension Plan Board acquired a new position in shares of Powerfleet during the fourth quarter worth $28,543,000. Royce & Associates LP acquired a new position in shares of Powerfleet during the fourth quarter worth $24,487,000. Private Management Group Inc. purchased a new position in Powerfleet in the fourth quarter valued at $23,147,000. Finally, Geode Capital Management LLC purchased a new stake in Powerfleet during the 4th quarter worth about $15,938,000. 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.