Powerfleet (NASDAQ:AIOT) Sees Unusually-High Trading Volume – Time to Buy?

Powerfleet, Inc. (NASDAQ:AIOT) saw unusually-strong trading volume on Friday . Approximately 972,585 shares traded hands during trading, an increase of 3% from the previous session’s volume of 948,246 shares.The stock last traded at $6.88 and had previously closed at $7.10.

Wall Street Analysts Forecast Growth

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

Powerfleet Stock Down 4.2 %

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 company has a 50-day simple moving average of $6.24.

Powerfleet (NASDAQ:AIOT) last announced its quarterly earnings results on Tuesday, November 12th. The company reported ($0.02) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.01) by ($0.01). The company had revenue of $77.02 million during the quarter, compared to analysts’ expectations of $74.54 million. During the same period in the prior year, the company posted ($0.14) EPS. 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 on Thursday, December 5th. The shares were 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 directly owns 240,962 shares in the company, valued at approximately $1,698,782.10. This represents a 25.39 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 7.79% of the stock is currently owned by corporate 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.