PowerFleet (NASDAQ:AIOT) Reaches New 12-Month Low – What’s Next?

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

Analyst Ratings Changes

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

PowerFleet Trading Down 10.7%

The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.93 and a current ratio of 1.09. The firm has a market capitalization of $482.94 million, a PE ratio of -15.65 and a beta of 1.33. The stock’s 50-day simple moving average is $5.26 and its 200-day simple moving average is $5.01.

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). PowerFleet had a negative net margin of 7.00% and a negative return on equity of 5.23%. The company had revenue of $113.49 million for the quarter, compared to the consensus estimate of $111.69 million. As a group, sell-side analysts expect that PowerFleet, Inc. will post -0.32 EPS for the current fiscal year.

Institutional Investors Weigh In On PowerFleet

Hedge funds have recently made changes to their positions in the company. State of Alaska Department of Revenue purchased a new position in PowerFleet during the third quarter valued at $31,000. CWM LLC lifted its position in PowerFleet by 784.9% during the 3rd quarter. CWM LLC now owns 6,203 shares of the company’s stock valued at $33,000 after acquiring an additional 5,502 shares during the period. BNP Paribas Financial Markets grew its holdings in PowerFleet by 100.9% in the second quarter. BNP Paribas Financial Markets now owns 11,756 shares of the company’s stock worth $51,000 after purchasing an additional 5,904 shares during the period. Spire Wealth Management increased its stake in shares of PowerFleet by 39.6% during the second quarter. Spire Wealth Management now owns 12,750 shares of the company’s stock valued at $55,000 after purchasing an additional 3,620 shares in the last quarter. Finally, Ameritas Investment Partners Inc. lifted its holdings in shares of PowerFleet by 43.2% during the second quarter. Ameritas Investment Partners Inc. now owns 12,692 shares of the company’s stock valued at $55,000 after purchasing an additional 3,826 shares during the last quarter. 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.