Powerfleet (NASDAQ:AIOT) Hits New 12-Month High – Should You Buy?

Powerfleet, Inc. (NASDAQ:AIOT) reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $7.45 and last traded at $7.26, with a volume of 1227183 shares. The stock had previously closed at $5.95.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on AIOT. Northland Securities boosted their target price on shares of Powerfleet from $8.00 to $10.00 and gave the stock an “outperform” rating in a research report on Friday, November 22nd. Barrington Research reissued an “outperform” rating and set a $15.00 price objective on shares of Powerfleet in a research report on Thursday. Finally, William Blair reaffirmed an “outperform” rating on shares of Powerfleet in a report on Thursday, November 21st.

Powerfleet Trading Up 25.1 %

The firm’s 50-day simple moving average is $6.40 and its 200-day simple moving average is $5.61. The company has a quick ratio of 1.51, a current ratio of 1.71 and a debt-to-equity ratio of 0.25.

Powerfleet (NASDAQ:AIOT) last released its earnings results on Monday, February 10th. The company reported ($0.11) earnings per share for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.13). Research analysts forecast that Powerfleet, Inc. will post -0.14 EPS for the current fiscal year.

Insider Buying and Selling

In other news, insider Catherine J. Lewis sold 82,010 shares of the company’s stock in a transaction that occurred on Thursday, December 5th. The stock was sold at an average price of $7.05, for a total value of $578,170.50. Following the sale, the insider now directly owns 240,962 shares in the company, valued at approximately $1,698,782.10. This represents a 25.39 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 7.79% of the stock is owned by company insiders.

Institutional Trading of Powerfleet

Institutional investors have recently bought and sold shares of the stock. Financial Management Professionals Inc. bought a new position in shares of Powerfleet during the fourth quarter valued at $50,000. Spire Wealth Management acquired a new stake in shares of Powerfleet during the 4th quarter worth about $55,000. Private Advisor Group LLC bought a new position in Powerfleet during the 4th quarter valued at about $68,000. HighTower Advisors LLC acquired a new position in Powerfleet in the fourth quarter valued at about $84,000. Finally, Victory Capital Management Inc. bought a new stake in Powerfleet during the fourth quarter worth about $103,000. Institutional investors and hedge funds own 73.40% of the company’s stock.

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.