Powerfleet (NASDAQ:AIOT) Trading Down 4.1% – Should You Sell?

Powerfleet, Inc. (NASDAQ:AIOT)’s share price was down 4.1% during mid-day trading on Thursday . The stock traded as low as $6.37 and last traded at $6.39. Approximately 556,047 shares changed hands during mid-day trading, a decline of 44% from the average daily volume of 987,878 shares. The stock had previously closed at $6.66.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on AIOT shares. Barrington Research increased their price target on Powerfleet from $10.00 to $15.00 and gave the stock an “outperform” rating in a report on Friday, November 22nd. William Blair reiterated an “outperform” rating on shares of Powerfleet in a research note on Thursday, November 21st. Finally, Northland Securities lifted their price objective on shares of Powerfleet from $8.00 to $10.00 and gave the company an “outperform” rating in a report on Friday, November 22nd.

Powerfleet Price Performance

The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.51 and a current ratio of 1.71. The firm’s fifty day moving average price is $6.37.

Powerfleet (NASDAQ:AIOT) last issued its quarterly earnings results on Tuesday, November 12th. The company reported ($0.02) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.01). The firm had revenue of $77.02 million during the quarter, compared to analyst estimates of $74.54 million. During the same quarter in the previous year, the firm posted ($0.14) earnings per share. On average, sell-side analysts expect that Powerfleet, Inc. will post -0.14 earnings per share for the current year.

Insiders Place Their Bets

In related news, insider Catherine J. Lewis sold 82,010 shares of the company’s stock in a transaction dated Thursday, December 5th. The stock was sold at an average price of $7.05, for a total value of $578,170.50. Following the completion of the transaction, the insider now owns 240,962 shares of the company’s stock, 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 can be accessed through this hyperlink. 7.79% of the stock is currently owned by insiders.

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.