Powerfleet (NASDAQ:AIOT) Shares Down 4.2%

Powerfleet, Inc. (NASDAQ:AIOT)’s share price dropped 4.2% during mid-day trading on Monday . The company traded as low as $4.96 and last traded at $4.97. Approximately 382,750 shares traded hands during mid-day trading, a decline of 52% from the average daily volume of 790,027 shares. The stock had previously closed at $5.19.

Wall Street Analysts Forecast Growth

Separately, Barrington Research reaffirmed an “outperform” rating and issued a $10.00 target price on shares of Powerfleet in a research note on Tuesday, September 24th.

Powerfleet Price Performance

The stock’s 50 day moving average is $4.77. The company has a market capitalization of $527.09 million, a price-to-earnings ratio of -17.23 and a beta of 1.68. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.23 and a quick ratio of 0.99.

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