PowerFleet (NASDAQ:AIOT) Receives “Outperform” Rating from Barrington Research

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

Other analysts have also recently issued research reports about the stock. Weiss Ratings restated a “sell (d-)” rating on shares of PowerFleet in a research report on Wednesday, October 8th. Zacks Research upgraded PowerFleet from a “strong sell” rating to a “hold” rating in a research report on Monday, October 13th. Finally, Wall Street Zen lowered PowerFleet from a “hold” rating to a “sell” rating in a research note on Sunday, November 2nd. Five equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $10.50.

PowerFleet Price Performance

Shares of AIOT stock traded up $0.11 during trading on Friday, hitting $4.89. The company had a trading volume of 1,898,015 shares, compared to its average volume of 1,835,580. The stock’s 50-day moving average is $5.15 and its two-hundred day moving average is $4.85. The stock has a market capitalization of $652.54 million, a price-to-earnings ratio of -16.30 and a beta of 1.35. The company has a quick ratio of 0.92, a current ratio of 1.07 and a debt-to-equity ratio of 0.51. PowerFleet has a 52 week low of $3.70 and a 52 week high of $8.71.

Insider Activity

In related news, CEO Steven Mark Towe purchased 23,157 shares of the firm’s stock in a transaction on Thursday, August 14th. The shares were acquired at an average cost of $4.42 per share, with a total value of $102,353.94. Following the purchase, the chief executive officer directly owned 2,457,923 shares of the company’s stock, valued at approximately $10,864,019.66. This trade represents a 0.95% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Michael J. Mcconnell acquired 10,000 shares of the stock in a transaction on Monday, August 18th. The stock was bought at an average price of $4.64 per share, with a total value of $46,400.00. Following the transaction, the director directly owned 28,028 shares of the company’s stock, valued at approximately $130,049.92. The trade was a 55.47% increase in their position. The disclosure for this purchase is available in the SEC filing. 6.30% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. State of Alaska Department of Revenue bought a new stake in PowerFleet during the 3rd quarter valued at $31,000. CWM LLC increased its position in shares of PowerFleet by 784.9% in the third quarter. CWM LLC now owns 6,203 shares of the company’s stock valued at $33,000 after acquiring an additional 5,502 shares during the period. BNP Paribas Financial Markets raised its stake in shares of PowerFleet by 100.9% during the second quarter. BNP Paribas Financial Markets now owns 11,756 shares of the company’s stock valued at $51,000 after acquiring an additional 5,904 shares during the last quarter. Spire Wealth Management boosted its holdings in shares of PowerFleet by 39.6% during the second quarter. Spire Wealth Management now owns 12,750 shares of the company’s stock worth $55,000 after purchasing an additional 3,620 shares during the period. Finally, Ameritas Investment Partners Inc. grew its stake in shares of PowerFleet by 43.2% in the second quarter. Ameritas Investment Partners Inc. now owns 12,692 shares of the company’s stock worth $55,000 after purchasing an additional 3,826 shares during the last quarter. 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.