PowerFleet (NASDAQ:AIOT) Issues Earnings Results

PowerFleet (NASDAQ:AIOT) announced its quarterly earnings results on Monday. The company reported $0.04 earnings per share (EPS) for the quarter, FiscalAI reports. PowerFleet had a negative return on equity of 5.23% and a negative net margin of 7.00%.The company had revenue of $114.49 million during the quarter, compared to analyst estimates of $112.98 million. During the same quarter in the previous year, the firm posted ($0.09) EPS.

PowerFleet Price Performance

NASDAQ AIOT opened at $4.22 on Monday. The stock has a 50-day simple moving average of $3.43 and a 200 day simple moving average of $4.12. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.96 and a current ratio of 1.09. The stock has a market capitalization of $566.11 million, a PE ratio of -18.35 and a beta of 1.43. PowerFleet has a twelve month low of $2.78 and a twelve month high of $5.88.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on AIOT shares. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of PowerFleet in a research report on Friday, May 8th. Wall Street Zen raised PowerFleet from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. Two investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $15.00.

Hedge Funds Weigh In On PowerFleet

Large investors have recently added to or reduced their stakes in the company. Kemnay Advisory Services Inc. bought a new stake in PowerFleet during the 4th quarter worth approximately $48,000. BNP Paribas Financial Markets grew its position in PowerFleet by 100.9% during the 2nd quarter. BNP Paribas Financial Markets now owns 11,756 shares of the company’s stock worth $51,000 after acquiring an additional 5,904 shares during the last quarter. Mercer Global Advisors Inc. ADV bought a new stake in PowerFleet during the 4th quarter worth approximately $63,000. CIBC Bancorp USA Inc. bought a new stake in PowerFleet during the 3rd quarter worth approximately $69,000. Finally, Prudential Financial Inc. bought a new stake in PowerFleet during the 2nd quarter worth approximately $65,000. Institutional investors and hedge funds own 73.40% of the company’s stock.

About PowerFleet

PowerFleet, Inc (NASDAQ: AIOT) develops and delivers Internet of Things (IoT)–based telematics and asset-tracking solutions designed to help businesses monitor, manage and optimize fleets of vehicles and industrial equipment. Its core offerings include wireless sensors, GPS tracking devices and cloud-hosted software platforms that provide real-time visibility into vehicle whereabouts, usage patterns, fuel consumption and maintenance needs. The company’s systems also support regulatory compliance and safety monitoring, enabling customers to reduce operational costs, minimize theft and improve overall asset utilization.

The company’s hardware portfolio features RFID readers, active and passive tags, onboard diagnostics (OBD) adapters and temperature or motion sensors that can be deployed on trucks, trailers, forklifts, containers and other high-value assets.