Wall Street Zen Upgrades PowerFleet (NASDAQ:AIOT) to “Hold”

Wall Street Zen upgraded shares of PowerFleet (NASDAQ:AIOT) from a sell rating to a hold rating in a research report released on Saturday.

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

PowerFleet Price Performance

Shares of NASDAQ AIOT opened at $4.48 on Friday. The stock has a 50 day moving average of $5.00 and a two-hundred day moving average of $5.83. PowerFleet has a twelve month low of $3.70 and a twelve month high of $8.71. The stock has a market cap of $593.64 million, a P/E ratio of -10.42 and a beta of 1.35. The company has a current ratio of 1.21, a quick ratio of 1.02 and a debt-to-equity ratio of 0.51.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of AIOT. Signaturefd LLC acquired a new position in shares of PowerFleet during the fourth quarter worth $25,000. NBC Securities Inc. acquired a new stake in shares of PowerFleet in the 1st quarter valued at about $36,000. Comerica Bank acquired a new stake in shares of PowerFleet in the 4th quarter valued at about $42,000. California State Teachers Retirement System acquired a new stake in shares of PowerFleet during the 4th quarter valued at approximately $46,000. Finally, GAMMA Investing LLC acquired a new stake in shares of PowerFleet during the first quarter worth $46,000. 73.40% of the stock is owned by institutional investors and hedge funds.

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.