Powerfleet (NASDAQ:AIOT) Stock Price Down 2.5%

Powerfleet, Inc. (NASDAQ:AIOT)’s share price traded down 2.5% during trading on Tuesday . The stock traded as low as $4.70 and last traded at $4.70. 150,723 shares changed hands during mid-day trading, a decline of 80% from the average session volume of 759,109 shares. The stock had previously closed at $4.82.

Analysts Set New Price Targets

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

Powerfleet Price Performance

The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.99 and a current ratio of 1.23. The firm’s 50-day moving average price is $4.75. The firm has a market capitalization of $500.25 million, a P/E ratio of -15.03 and a beta of 1.68.

Powerfleet (NASDAQ:AIOT) last announced its earnings results on Thursday, August 22nd. The company reported ($0.21) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.13). Powerfleet had a negative return on equity of 6.61% and a negative net margin of 3.86%. The business had revenue of $75.43 million for the quarter, compared to analyst estimates of $71.13 million. As a group, analysts expect that Powerfleet, Inc. will post -0.16 EPS 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.