Powerfleet (NASDAQ:AIOT) PT Set at $8.00 by Lake Street Capital

Lake Street Capital set a $8.00 price target on Powerfleet (NASDAQ:AIOT) in a research note issued to investors on Tuesday morning, Marketbeat reports. The firm currently has a buy rating on the stock.

A number of other equities research analysts also recently issued reports on the stock. Northland Securities increased their target price on shares of Powerfleet from $10.00 to $11.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 11th. Raymond James cut their price target on shares of Powerfleet from $10.00 to $8.00 and set an “outperform” rating on the stock in a report on Tuesday, April 29th. Finally, Barrington Research restated an “outperform” rating and set a $15.00 price target on shares of Powerfleet in a report on Friday, May 23rd. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, Powerfleet has a consensus rating of “Buy” and an average price target of $10.50.

Powerfleet Trading Up 2.4%

AIOT stock opened at $4.70 on Tuesday. Powerfleet has a 12-month low of $3.70 and a 12-month high of $8.71. The company has a current ratio of 1.21, a quick ratio of 1.02 and a debt-to-equity ratio of 0.51. The company has a 50 day moving average of $5.16 and a two-hundred day moving average of $6.08.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of AIOT. SG Americas Securities LLC bought a new position in shares of Powerfleet during the 4th quarter valued at $228,000. Inspire Investing LLC acquired a new position in Powerfleet in the 4th quarter valued at $398,000. Spire Wealth Management acquired a new position in Powerfleet in the 4th quarter valued at $55,000. Hodges Capital Management Inc. acquired a new position in Powerfleet in the 4th quarter valued at $10,982,000. Finally, Calamos Advisors LLC acquired a new position in Powerfleet in the 4th quarter valued at $2,191,000. Institutional investors own 73.40% of the company’s stock.

Powerfleet Company Profile

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.