Powerfleet (NASDAQ:AIOT) Price Target Raised to $11.00

Powerfleet (NASDAQ:AIOT) had its target price raised by Lake Street Capital from $7.00 to $11.00 in a research note released on Tuesday,Benzinga reports. They currently have a buy rating on the stock.

A number of other equities analysts also recently commented on AIOT. William Blair reissued an “outperform” rating on shares of Powerfleet in a research note on Thursday, November 21st. Barrington Research reissued an “outperform” rating and issued a $15.00 price objective on shares of Powerfleet in a research note on Thursday, February 6th. Finally, Northland Securities boosted their price objective on shares of Powerfleet from $10.00 to $11.00 and gave the stock an “outperform” rating in a research note on Tuesday.

Powerfleet Trading Up 2.4 %

Shares of NASDAQ AIOT opened at $8.07 on Tuesday. The company has a current ratio of 1.71, a quick ratio of 1.51 and a debt-to-equity ratio of 0.25. The stock has a 50 day moving average price of $6.47 and a 200 day moving average price of $5.68. Powerfleet has a 52-week low of $2.85 and a 52-week high of $8.71.

Powerfleet (NASDAQ:AIOT) last issued its quarterly earnings data 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, equities analysts forecast that Powerfleet will post -0.14 EPS for the current fiscal year.

Insider Transactions at Powerfleet

In other news, insider Catherine J. Lewis sold 82,010 shares of the business’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 sale, the insider now directly owns 240,962 shares of the company’s stock, valued at $1,698,782.10. The trade was a 25.39 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 7.79% of the company’s stock.

Institutional Investors Weigh In On Powerfleet

A number of large investors have recently made changes to their positions in AIOT. Signaturefd LLC purchased a new stake in shares of Powerfleet during the fourth quarter valued at $25,000. Financial Management Professionals Inc. purchased a new stake in shares of Powerfleet during the fourth quarter valued at $50,000. Spire Wealth Management purchased a new stake in shares of Powerfleet during the fourth quarter valued at $55,000. Legal & General Group Plc purchased a new stake in shares of Powerfleet during the fourth quarter valued at $58,000. Finally, Ameritas Investment Partners Inc. purchased a new stake in Powerfleet in the fourth quarter valued at $59,000. 73.40% of the stock is owned by hedge funds and other institutional investors.

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.