PowerFleet (NASDAQ:AIOT) Raised to Hold at Wall Street Zen

PowerFleet (NASDAQ:AIOT) was upgraded by analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research note issued to investors on Saturday.

Several other research firms have also issued reports on AIOT. Barrington Research reaffirmed an “outperform” rating and issued a $15.00 price objective on shares of PowerFleet in a research note on Friday, June 13th. Raymond James Financial reduced their price target on PowerFleet from $10.00 to $8.00 and set an “outperform” rating on the stock in a report on Tuesday, April 29th. Finally, Lake Street Capital set a $8.00 price target on PowerFleet and gave the stock a “buy” rating in a report on Tuesday, May 27th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $10.50.

PowerFleet Price Performance

NASDAQ:AIOT opened at $4.54 on Friday. The firm has a market capitalization of $601.60 million, a price-to-earnings ratio of -10.56 and a beta of 1.35. PowerFleet has a 1 year low of $3.70 and a 1 year high of $8.71. The business has a 50 day simple moving average of $5.01 and a 200-day simple moving average of $5.86. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.21 and a quick ratio of 1.02.

Institutional Investors Weigh In On PowerFleet

Several hedge funds and other institutional investors have recently modified their holdings of AIOT. Rhumbline Advisers purchased a new stake in shares of PowerFleet in the fourth quarter worth approximately $915,000. New York State Common Retirement Fund purchased a new position in PowerFleet during the 4th quarter worth $113,000. Private Advisor Group LLC purchased a new position in PowerFleet during the 4th quarter worth $68,000. Y Intercept Hong Kong Ltd purchased a new position in PowerFleet during the 4th quarter worth $480,000. Finally, Bank of New York Mellon Corp purchased a new position in PowerFleet during the 4th quarter worth $1,644,000. 73.40% of the stock is currently owned by hedge funds and other institutional investors.

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.