Northland Securities Raises Powerfleet (NASDAQ:AIOT) Price Target to $11.00

Powerfleet (NASDAQ:AIOT) had its target price raised by Northland Securities from $10.00 to $11.00 in a research report report published on Tuesday morning,Benzinga reports. Northland Securities currently has an outperform rating on the stock.

AIOT has been the subject of a number of other research reports. William Blair restated an “outperform” rating on shares of Powerfleet in a report on Thursday, November 21st. Barrington Research restated an “outperform” rating and issued a $15.00 price objective on shares of Powerfleet in a report on Thursday, February 6th.

Powerfleet Price Performance

NASDAQ:AIOT opened at $8.51 on Tuesday. Powerfleet has a 52 week low of $2.85 and a 52 week high of $8.71. The company has a current ratio of 1.71, a quick ratio of 1.51 and a debt-to-equity ratio of 0.25. The company has a fifty day moving average of $6.42 and a 200 day moving average of $5.64.

Powerfleet (NASDAQ:AIOT) last posted its earnings results on Monday, February 10th. The company reported ($0.11) earnings per share for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.13). On average, equities research analysts predict that Powerfleet will post -0.14 earnings per share for the current fiscal year.

Insider Transactions at Powerfleet

In other Powerfleet news, insider Catherine J. Lewis sold 82,010 shares of the business’s stock in a transaction on Thursday, December 5th. The stock was sold at an average price of $7.05, for a total value of $578,170.50. Following the sale, the insider now directly owns 240,962 shares of the company’s stock, valued at approximately $1,698,782.10. The trade was a 25.39 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 7.79% of the company’s stock.

Hedge Funds Weigh In On Powerfleet

A number of hedge funds have recently bought and sold shares of AIOT. Signaturefd LLC purchased a new position in Powerfleet in the fourth quarter worth about $25,000. Financial Management Professionals Inc. purchased a new position in Powerfleet in the 4th quarter worth approximately $50,000. Spire Wealth Management purchased a new stake in Powerfleet during the 4th quarter valued at $55,000. Private Advisor Group LLC bought a new stake in shares of Powerfleet in the 4th quarter worth $68,000. Finally, HighTower Advisors LLC purchased a new position in shares of Powerfleet in the fourth quarter worth $84,000. Institutional investors own 73.40% of the company’s stock.

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.