Powerfleet (NASDAQ:AIOT) Trading Up 8.6% – Here’s Why

Powerfleet, Inc. (NASDAQ:AIOT)’s stock price traded up 8.6% during trading on Wednesday . The company traded as high as $5.67 and last traded at $5.66. 462,245 shares changed hands during mid-day trading, a decline of 44% from the average session volume of 819,480 shares. The stock had previously closed at $5.21.

Analyst Ratings Changes

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

Powerfleet Price Performance

The company has a current ratio of 1.23, a quick ratio of 0.99 and a debt-to-equity ratio of 0.29. The firm’s 50-day moving average is $5.05.

Powerfleet (NASDAQ:AIOT) last released its quarterly earnings results on Thursday, August 22nd. The company reported ($0.21) EPS for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.13). The firm had revenue of $75.43 million for the quarter, compared to the consensus estimate of $71.13 million. On average, sell-side analysts forecast that Powerfleet, Inc. will post -0.13 EPS 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.