Barrington Research Reiterates Outperform Rating for PowerFleet (NASDAQ:AIOT)

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

A number of other research firms have also recently commented on AIOT. Raymond James Financial reduced their price target on PowerFleet from $10.00 to $8.00 and set an “outperform” rating for the company in a report on Tuesday, April 29th. 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. Finally, Wall Street Zen upgraded PowerFleet from a “sell” rating to a “hold” rating in a report on Saturday, June 21st. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, PowerFleet currently has a consensus rating of “Moderate Buy” and a consensus price target of $10.50.

PowerFleet Trading Down 3.2%

PowerFleet stock opened at $4.50 on Monday. PowerFleet has a 52 week low of $3.70 and a 52 week high of $8.71. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.00 and a current ratio of 1.07. The stock has a market capitalization of $600.48 million, a P/E ratio of -15.00 and a beta of 1.35. The stock has a 50-day simple moving average of $4.41 and a 200 day simple moving average of $5.30.

Institutional Investors Weigh In On PowerFleet

Institutional investors have recently made changes to their positions in the company. NBC Securities Inc. acquired a new stake in shares of PowerFleet in the first quarter valued at approximately $36,000. Comerica Bank acquired a new stake in shares of PowerFleet in the fourth quarter valued at approximately $42,000. California State Teachers Retirement System acquired a new stake in shares of PowerFleet in the fourth quarter valued at approximately $46,000. GAMMA Investing LLC acquired a new stake in shares of PowerFleet in the first quarter valued at approximately $46,000. Finally, Spire Wealth Management raised its position in shares of PowerFleet by 39.6% in the second quarter. Spire Wealth Management now owns 12,750 shares of the company’s stock valued at $55,000 after buying an additional 3,620 shares in 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.