Powerfleet (NASDAQ:AIOT) Stock Price Up 8.6% – Time to Buy?

Powerfleet, Inc. (NASDAQ:AIOT)’s stock price was up 8.6% during mid-day trading on Wednesday . The stock traded as high as $5.67 and last traded at $5.66. Approximately 462,245 shares changed hands during trading, a decline of 44% from the average daily volume of 819,480 shares. The stock had previously closed at $5.21.

Analyst Upgrades and Downgrades

Separately, Barrington Research restated an “outperform” rating and issued a $10.00 target price on shares of Powerfleet in a report on Monday.

Powerfleet Stock Performance

The company has a debt-to-equity ratio of 0.25, a current ratio of 1.71 and a quick ratio of 0.99. The stock has a 50-day moving average price of $5.09.

Powerfleet (NASDAQ:AIOT) last announced its quarterly earnings data on Thursday, August 22nd. The company reported ($0.21) EPS for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.13). The company had revenue of $75.43 million for the quarter, compared to analysts’ expectations of $71.13 million. Equities analysts predict that Powerfleet, Inc. will post -0.13 earnings per share for the current fiscal year.

About Powerfleet

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.