Powerfleet (NASDAQ:AIOT) Shares Gap Up to $4.66

Shares of Powerfleet, Inc. (NASDAQ:AIOTGet Free Report) gapped up prior to trading on Wednesday . The stock had previously closed at $4.66, but opened at $5.02. Powerfleet shares last traded at $5.33, with a volume of 575,879 shares changing hands.

Analysts Set New Price Targets

Separately, Barrington Research reaffirmed an “outperform” rating and set a $10.00 price target on shares of Powerfleet in a research note on Thursday, August 22nd.

Get Our Latest Stock Report on AIOT

Powerfleet Stock Performance

The company has a quick ratio of 0.99, a current ratio of 1.23 and a debt-to-equity ratio of 0.29. The firm has a 50-day moving average of $4.74. The company has a market cap of $572.18 million, a PE ratio of -15.03 and a beta of 1.68.

Powerfleet (NASDAQ:AIOTGet Free Report) last issued its quarterly earnings data on Thursday, August 22nd. The company reported ($0.21) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.08) by ($0.13). The company had revenue of $75.43 million during the quarter, compared to analysts’ expectations of $71.13 million. Powerfleet had a negative net margin of 3.86% and a negative return on equity of 6.61%. As a group, analysts expect that Powerfleet, Inc. will post -0.16 earnings per share for the current year.

About Powerfleet

(Get Free Report)

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.

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