Powerfleet (NASDAQ:AIOT) Hits New 52-Week High – What’s Next?

Powerfleet, Inc. (NASDAQ:AIOT) shares reached a new 52-week high during trading on Monday . The company traded as high as $7.45 and last traded at $7.26, with a volume of 1227183 shares changing hands. The stock had previously closed at $5.95.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on AIOT shares. William Blair reissued an “outperform” rating on shares of Powerfleet in a research report on Thursday, November 21st. Northland Securities raised their price objective on shares of Powerfleet from $10.00 to $11.00 and gave the stock an “outperform” rating in a report on Tuesday. Barrington Research restated an “outperform” rating and set a $15.00 price objective on shares of Powerfleet in a research report on Thursday, February 6th. Finally, Lake Street Capital increased their target price on shares of Powerfleet from $7.00 to $11.00 and gave the company a “buy” rating in a research report on Tuesday.

Powerfleet Stock Performance

The company has a debt-to-equity ratio of 0.25, a current ratio of 1.71 and a quick ratio of 1.51. The business’s 50-day moving average is $6.42 and its two-hundred day moving average is $5.64.

Powerfleet (NASDAQ:AIOT) last issued its quarterly earnings results on Monday, February 10th. The company reported ($0.11) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.13). Analysts forecast that Powerfleet, Inc. will post -0.14 earnings per share for the current fiscal year.

Insider Transactions at Powerfleet

In other news, insider Catherine J. Lewis sold 82,010 shares of the company’s stock in a transaction on Thursday, December 5th. The shares were sold at an average price of $7.05, for a total transaction of $578,170.50. Following the transaction, the insider now directly owns 240,962 shares of the company’s stock, valued at $1,698,782.10. This represents a 25.39 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 7.79% of the company’s stock.

Institutional Trading of Powerfleet

Several hedge funds and other institutional investors have recently made changes to their positions in AIOT. Kopion Asset Management LLC purchased a new position in Powerfleet in the 4th quarter valued at approximately $7,361,000. Yarbrough Capital LLC purchased a new position in shares of Powerfleet in the fourth quarter valued at $372,000. Financial Management Professionals Inc. purchased a new position in shares of Powerfleet in the fourth quarter valued at $50,000. SG Americas Securities LLC acquired a new position in shares of Powerfleet during the 4th quarter worth $228,000. Finally, Inspire Investing LLC purchased a new stake in shares of Powerfleet in the 4th quarter worth about $398,000. Institutional investors and hedge funds 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.