Powerfleet (NASDAQ:AIOT) Shares Down 2.5%

Powerfleet, Inc. (NASDAQ:AIOT)’s share price fell 2.5% during trading on Tuesday . The stock traded as low as $4.70 and last traded at $4.70. 150,723 shares traded hands during trading, a decline of 80% from the average session volume of 759,109 shares. The stock had previously closed at $4.82.

Analysts Set New Price Targets

Separately, Barrington Research reissued an “outperform” rating and issued a $10.00 price target on shares of Powerfleet in a report on Thursday, August 22nd.

Powerfleet Price Performance

The business’s fifty day simple moving average is $4.75. The stock has a market capitalization of $549.63 million, a P/E ratio of -16.52 and a beta of 1.68. The company has a current ratio of 1.23, a quick ratio of 0.99 and a debt-to-equity ratio of 0.29.

Powerfleet (NASDAQ:AIOT) last announced its quarterly earnings results on Thursday, August 22nd. The company reported ($0.21) earnings per share for the quarter, missing the consensus estimate of ($0.08) by ($0.13). The business had revenue of $75.43 million during the quarter, compared to analysts’ expectations of $71.13 million. Powerfleet had a negative net margin of 3.86% and a negative return on equity of 6.61%. As a group, analysts predict that Powerfleet, Inc. will post -0.16 EPS for the current year.

Powerfleet Company Profile

PowerFleet, Inc provides wireless Internet-of-Things asset management solutions in the United States, Israel, and internationally. The company offers real-time intelligence for organizations to capture IoT data from various types of assets with devices and sensors to increase efficiencies, and improve safety and security, as well as increase their profitability in easy-to-understand reports, dashboards, and real-time alerts; and application programming interfaces for additional integrations and development to boost other enterprise management systems and third-party applications.