Powerfleet (NASDAQ:AIOT) Reaches New 52-Week Low – Time to Sell?

Powerfleet, Inc. (NASDAQ:AIOT) shares reached a new 52-week low during trading on Saturday . The stock traded as low as $3.70 and last traded at $4.27, with a volume of 7720566 shares. The stock had previously closed at $4.80.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on AIOT shares. Northland Securities increased their price target on Powerfleet from $10.00 to $11.00 and gave the company an “outperform” rating in a research report on Tuesday, February 11th. Lake Street Capital boosted their price target on shares of Powerfleet from $7.00 to $11.00 and gave the stock a “buy” rating in a report on Tuesday, February 11th. Finally, Barrington Research restated an “outperform” rating and issued a $15.00 price objective on shares of Powerfleet in a report on Thursday, February 13th.

Powerfleet Trading Down 11.0 %

The firm has a 50-day moving average price of $6.42 and a two-hundred day moving average price of $6.10. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.02 and a current ratio of 1.21.

Powerfleet (NASDAQ:AIOT) last announced its quarterly earnings results on Monday, February 10th. The company reported ($0.11) EPS for the quarter, missing the consensus estimate of $0.02 by ($0.13). Equities analysts forecast that Powerfleet, Inc. will post -0.32 EPS for the current year.

Institutional Investors Weigh In On Powerfleet

A number of institutional investors and hedge funds have recently bought and sold shares of AIOT. Signaturefd LLC acquired a new stake in shares of Powerfleet during the fourth quarter worth about $25,000. Comerica Bank purchased a new position in Powerfleet during the 4th quarter worth approximately $42,000. California State Teachers Retirement System acquired a new position in Powerfleet during the fourth quarter worth approximately $46,000. Financial Management Professionals Inc. purchased a new stake in Powerfleet in the fourth quarter valued at approximately $50,000. Finally, Spire Wealth Management acquired a new stake in shares of Powerfleet in the fourth quarter valued at approximately $55,000. 73.40% of the stock is owned by hedge funds and other institutional investors.

Powerfleet Company Profile

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.