PowerFleet (NASDAQ:AIOT) Sets New 52-Week Low – Should You Sell?

PowerFleet, Inc. (NASDAQ:AIOT)’s stock price hit a new 52-week low during mid-day trading on Thursday . The company traded as low as $3.67 and last traded at $3.7550, with a volume of 959918 shares trading hands. The stock had previously closed at $4.03.

Wall Street Analysts Forecast Growth

AIOT has been the topic of a number of analyst reports. William Blair reiterated an “outperform” rating on shares of PowerFleet in a research note on Tuesday, November 11th. Weiss Ratings raised shares of PowerFleet from a “sell (d-)” rating to a “hold (c-)” rating in a research report on Tuesday. Barrington Research reaffirmed an “outperform” rating and issued a $15.00 price objective on shares of PowerFleet in a research report on Friday, February 6th. Finally, Wall Street Zen upgraded PowerFleet from a “sell” rating to a “hold” rating in a research note on Saturday, December 13th. Four analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $10.33.

PowerFleet Trading Down 10.7%

The company has a debt-to-equity ratio of 0.48, a current ratio of 1.09 and a quick ratio of 0.93. The stock’s 50-day moving average is $5.26 and its two-hundred day moving average is $5.01. The company has a market cap of $482.94 million, a P/E ratio of -15.65 and a beta of 1.33.

PowerFleet (NASDAQ:AIOT) last announced its earnings results on Monday, February 9th. The company reported $0.02 earnings per share for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.02). The company had revenue of $113.49 million for the quarter, compared to analysts’ expectations of $111.69 million. PowerFleet had a negative net margin of 7.00% and a negative return on equity of 5.23%. As a group, equities research analysts predict that PowerFleet, Inc. will post -0.32 earnings per share for the current fiscal year.

Institutional Investors Weigh In On PowerFleet

Large investors have recently made changes to their positions in the company. Royal Bank of Canada lifted its stake in shares of PowerFleet by 198.0% in the 1st quarter. Royal Bank of Canada now owns 91,365 shares of the company’s stock worth $501,000 after purchasing an additional 60,705 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in PowerFleet by 275.7% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 203,211 shares of the company’s stock valued at $1,116,000 after buying an additional 149,116 shares during the last quarter. Dynamic Technology Lab Private Ltd bought a new position in PowerFleet in the first quarter worth approximately $251,000. Goldman Sachs Group Inc. boosted its stake in shares of PowerFleet by 15.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,045,424 shares of the company’s stock worth $5,739,000 after acquiring an additional 138,856 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC bought a new stake in shares of PowerFleet during the 1st quarter valued at $3,670,000. 73.40% of the stock is currently owned by institutional investors.

PowerFleet Company Profile

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.