Powerfleet (NASDAQ:AIOT) Sees Strong Trading Volume – Still a Buy?

Powerfleet, Inc. (NASDAQ:AIOT) shares saw an uptick in trading volume on Friday . 972,585 shares changed hands during trading, an increase of 3% from the previous session’s volume of 948,246 shares.The stock last traded at $6.88 and had previously closed at $7.10.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. William Blair reissued an “outperform” rating on shares of Powerfleet in a report on Thursday, November 21st. Northland Securities raised their target price on Powerfleet from $8.00 to $10.00 and gave the stock an “outperform” rating in a report on Friday, November 22nd. Finally, Barrington Research boosted their price target on Powerfleet from $10.00 to $15.00 and gave the company an “outperform” rating in a report on Friday, November 22nd.

Powerfleet Stock Performance

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 50-day moving average price is $6.21.

Powerfleet (NASDAQ:AIOT) last posted its quarterly earnings data on Tuesday, November 12th. The company reported ($0.02) EPS for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.01). The firm had revenue of $77.02 million during the quarter, compared to analyst estimates of $74.54 million. During the same period in the previous year, the business earned ($0.14) EPS. Analysts predict that Powerfleet, Inc. will post -0.14 earnings per share for the current fiscal year.

Insider Buying and Selling at Powerfleet

In related news, insider Catherine J. Lewis sold 82,010 shares of the firm’s stock in a transaction dated Thursday, December 5th. The shares were sold at an average price of $7.05, for a total value of $578,170.50. Following the transaction, the insider now directly owns 240,962 shares of the company’s stock, 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. Insiders own 7.79% of the company’s stock.

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.