Powerfleet (NASDAQ:AIOT) Stock Price Down 2.5%

Powerfleet, Inc. (NASDAQ:AIOT)’s share price dropped 2.5% during mid-day trading on Tuesday . The company traded as low as $4.70 and last traded at $4.70. Approximately 150,723 shares were traded during trading, a decline of 80% from the average daily 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 target price on shares of Powerfleet in a report on Thursday, August 22nd.

Powerfleet Price Performance

The business’s 50-day moving average is $4.75. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.23 and a quick ratio of 0.99. The stock has a market cap of $500.25 million, a price-to-earnings ratio of -15.03 and a beta of 1.68.

Powerfleet (NASDAQ:AIOT) last announced its quarterly earnings data 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 for the quarter, compared to the consensus estimate of $71.13 million. Powerfleet had a negative return on equity of 6.61% and a negative net margin of 3.86%. As a group, research analysts predict that Powerfleet, Inc. will post -0.16 earnings per share for the current year.

About Powerfleet

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.