Powerfleet’s (AIOT) Outperform Rating Reaffirmed at Barrington Research

Barrington Research restated their outperform rating on shares of Powerfleet (NASDAQ:AIOT) in a report released on Friday,Benzinga reports. Barrington Research currently has a $15.00 price target on the stock.

Several other research analysts have also weighed in on the stock. Lake Street Capital set a $8.00 price objective on shares of Powerfleet and gave the stock a “buy” rating in a report on Tuesday, May 27th. Raymond James decreased their price objective on shares of Powerfleet from $10.00 to $8.00 and set an “outperform” rating for the company in a report on Tuesday, April 29th. Five analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has an average rating of “Buy” and an average price target of $10.50.

Powerfleet Stock Down 6.1%

Shares of AIOT stock opened at $4.45 on Friday. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.21 and a quick ratio of 1.02. Powerfleet has a 1-year low of $3.70 and a 1-year high of $8.71. The firm has a fifty day moving average of $5.02 and a two-hundred day moving average of $5.95.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. Private Capital Management LLC acquired a new position in shares of Powerfleet in the 4th quarter valued at about $45,504,000. Vanguard Group Inc. boosted its holdings in shares of Powerfleet by 3.8% in the 1st quarter. Vanguard Group Inc. now owns 6,725,504 shares of the company’s stock valued at $36,923,000 after buying an additional 248,914 shares during the period. AWM Investment Company Inc. acquired a new position in shares of Powerfleet in the 4th quarter valued at about $31,000,000. Ontario Teachers Pension Plan Board acquired a new position in shares of Powerfleet in the 4th quarter valued at about $28,543,000. Finally, Private Management Group Inc. boosted its holdings in shares of Powerfleet by 8.7% in the 1st quarter. Private Management Group Inc. now owns 3,778,478 shares of the company’s stock valued at $20,744,000 after buying an additional 303,004 shares during the period. 73.40% of the stock is 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.