Powerfleet (NASDAQ:AIOT) Stock Price Expected to Rise, Lake Street Capital Analyst Says

Powerfleet (NASDAQ:AIOT) had its price target upped by research analysts at Lake Street Capital from $7.00 to $11.00 in a research note issued on Tuesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Lake Street Capital’s price objective suggests a potential upside of 39.59% from the stock’s previous close.

A number of other research firms have also commented on AIOT. Barrington Research reaffirmed an “outperform” rating and set a $15.00 price target on shares of Powerfleet in a research report on Thursday, February 6th. Northland Securities boosted their target price on Powerfleet from $10.00 to $11.00 and gave the company an “outperform” rating in a research note on Tuesday. Finally, William Blair restated an “outperform” rating on shares of Powerfleet in a research note on Thursday, November 21st.

Powerfleet Trading Down 7.4 %

NASDAQ:AIOT opened at $7.88 on Tuesday. 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 price is $6.45 and its two-hundred day moving average price is $5.67. Powerfleet has a 1-year low of $2.85 and a 1-year high of $8.71.

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

Insiders Place Their Bets

In other Powerfleet news, insider Catherine J. Lewis sold 82,010 shares of the business’s stock in a transaction that occurred on Thursday, December 5th. The stock was sold at an average price of $7.05, for a total transaction of $578,170.50. Following the transaction, the insider now owns 240,962 shares of the company’s stock, valued at $1,698,782.10. The trade was a 25.39 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 7.79% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. Signaturefd LLC acquired a new position in shares of Powerfleet during the 4th quarter worth approximately $25,000. Financial Management Professionals Inc. acquired a new position in shares of Powerfleet during the 4th quarter worth approximately $50,000. Spire Wealth Management acquired a new position in shares of Powerfleet during the 4th quarter worth approximately $55,000. Private Advisor Group LLC acquired a new position in shares of Powerfleet during the 4th quarter worth approximately $68,000. Finally, HighTower Advisors LLC acquired a new position in shares of Powerfleet during the 4th quarter worth approximately $84,000. Institutional investors and hedge funds own 73.40% of the company’s stock.

About Powerfleet

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.