Powerfleet (NASDAQ:AIOT) Sees Unusually-High Trading Volume – Still a Buy?

Shares of Powerfleet, Inc. (NASDAQ:AIOT) saw unusually-high trading volume on Tuesday . Approximately 1,434,295 shares were traded during mid-day 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.

Analyst Upgrades and Downgrades

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

Powerfleet Trading Up 3.3 %

The stock’s fifty day simple moving average is $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 posted its earnings results on Tuesday, November 12th. The company reported ($0.02) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.01). The firm had revenue of $77.02 million for the quarter, compared to the consensus estimate of $74.54 million. During the same period in the prior year, the company posted ($0.14) EPS. On average, equities research analysts forecast that Powerfleet, Inc. will post -0.13 earnings per share for the current fiscal 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.