Powerfleet (NASDAQ:AIOT) Sets New 12-Month Low – What’s Next?

Powerfleet, Inc. (NASDAQ:AIOT)’s stock price hit a new 52-week low on Saturday . The stock traded as low as $3.70 and last traded at $4.27, with a volume of 7720566 shares changing hands. The stock had previously closed at $4.80.

Analyst Ratings Changes

AIOT has been the topic of a number of analyst reports. Lake Street Capital upped their price target on shares of Powerfleet from $7.00 to $11.00 and gave the stock a “buy” rating in a research note on Tuesday, February 11th. Barrington Research reiterated an “outperform” rating and set a $15.00 price target on shares of Powerfleet in a report on Thursday, February 13th. Finally, Northland Securities raised their price target on shares of Powerfleet from $10.00 to $11.00 and gave the company an “outperform” rating in a research report on Tuesday, February 11th.

Powerfleet Stock Performance

The firm has a 50-day moving average of $6.42 and a 200 day moving average of $6.12. The company has a current ratio of 1.21, a quick ratio of 1.02 and a debt-to-equity ratio of 0.51.

Powerfleet (NASDAQ:AIOT) last announced its quarterly earnings results on Monday, February 10th. The company reported ($0.11) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.13). As a group, equities analysts anticipate that Powerfleet, Inc. will post -0.32 EPS for the current fiscal year.

Institutional Investors Weigh In On Powerfleet

Large investors have recently added to or reduced their stakes in the stock. Signaturefd LLC bought a new position in shares of Powerfleet during the 4th quarter valued at $25,000. Comerica Bank bought a new stake in shares of Powerfleet in the fourth quarter worth $42,000. California State Teachers Retirement System purchased a new stake in Powerfleet during the fourth quarter valued at $46,000. Financial Management Professionals Inc. bought a new position in Powerfleet in the fourth quarter valued at about $50,000. Finally, Spire Wealth Management purchased a new position in Powerfleet in the fourth quarter worth about $55,000. Institutional investors 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.