Powerfleet (NASDAQ:AIOT) Price Target Raised to $11.00

Powerfleet (NASDAQ:AIOT) had its price target upped by Northland Securities from $10.00 to $11.00 in a research note published on Tuesday,Benzinga reports. They currently have an outperform rating on the stock.

A number of other research analysts have also commented on the stock. Barrington Research restated an “outperform” rating and issued a $15.00 price objective on shares of Powerfleet in a research note on Thursday, February 6th. William Blair reiterated an “outperform” rating on shares of Powerfleet in a research note on Thursday, November 21st.

Powerfleet Price Performance

NASDAQ AIOT opened at $8.07 on Tuesday. 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 has a one year low of $2.85 and a one year high of $8.71. The firm’s fifty day moving average is $6.47 and its two-hundred day moving average is $5.68.

Powerfleet (NASDAQ:AIOT) last posted its quarterly earnings data on Monday, February 10th. The company reported ($0.11) EPS for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.13). On average, analysts forecast that Powerfleet will post -0.14 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Catherine J. Lewis sold 82,010 shares of the business’s stock in a transaction dated Thursday, December 5th. The shares were sold at an average price of $7.05, for a total transaction of $578,170.50. Following the sale, the insider now owns 240,962 shares of the company’s stock, valued at approximately $1,698,782.10. The trade was a 25.39 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 7.79% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in AIOT. Signaturefd LLC acquired a new position in Powerfleet during the fourth quarter worth about $25,000. Financial Management Professionals Inc. acquired a new position in Powerfleet during the fourth quarter worth about $50,000. Spire Wealth Management acquired a new position in Powerfleet during the fourth quarter worth about $55,000. Legal & General Group Plc acquired a new position in Powerfleet during the fourth quarter worth about $58,000. Finally, Ameritas Investment Partners Inc. acquired a new position in Powerfleet during the fourth quarter worth about $59,000. 73.40% of the stock is currently owned by institutional investors and hedge funds.

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.