Powerfleet (NASDAQ:AIOT) Stock Price Down 5.3% – Time to Sell?

Powerfleet, Inc. (NASDAQ:AIOT) shares fell 5.3% during mid-day trading on Friday . The stock traded as low as $5.71 and last traded at $5.72. 240,710 shares changed hands during mid-day trading, a decline of 71% from the average session volume of 840,521 shares. The stock had previously closed at $6.04.

Wall Street Analysts Forecast Growth

Separately, Barrington Research reiterated an “outperform” rating and set a $10.00 target price on shares of Powerfleet in a research note on Monday.

Powerfleet Stock Down 0.8 %

The company has a quick ratio of 0.99, a current ratio of 1.71 and a debt-to-equity ratio of 0.25. The business’s fifty day moving average is $5.12.

Powerfleet (NASDAQ:AIOT) last announced its 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 analyst estimates of $71.13 million. Equities analysts anticipate that Powerfleet, Inc. will post -0.13 EPS for the current fiscal 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.