Powerfleet (NASDAQ:AIOT) Sees Unusually-High Trading Volume – Time to Buy?

Powerfleet, Inc. (NASDAQ:AIOT) saw an uptick in trading volume on Tuesday . 1,434,295 shares changed hands during mid-day trading, an increase of 68% from the previous session’s volume of 855,066 shares.The stock last traded at $6.49 and had previously closed at $6.30.

Analysts Set New Price Targets

Several research firms have recently issued reports on AIOT. Barrington Research reiterated an “outperform” rating and set a $10.00 price target on shares of Powerfleet in a research note on Monday, November 11th. William Blair reiterated an “outperform” rating on shares of Powerfleet in a research note on Thursday.

Powerfleet Stock Performance

The business’s 50 day moving average is $5.26. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.71 and a quick ratio of 1.51.

Powerfleet (NASDAQ:AIOT) last posted its quarterly earnings results on Tuesday, November 12th. The company reported ($0.02) EPS for the quarter, missing the consensus estimate of ($0.01) by ($0.01). The business had revenue of $77.02 million during the quarter, compared to analysts’ expectations of $74.54 million. During the same period last year, the business posted ($0.14) earnings per share. On average, equities analysts forecast that Powerfleet, Inc. will post -0.13 earnings per share for the current year.

Powerfleet Company Profile

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.