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

Powerfleet, Inc. (NASDAQ:AIOT)’s share price gapped up before the market opened 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 traded.

Wall Street Analyst Weigh In

Separately, Barrington Research reiterated 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 stock has a fifty day simple moving average of $4.76. The firm has a market cap of $549.63 million, a price-to-earnings ratio of -16.52 and a beta of 1.68. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.23 and a quick ratio of 0.99.

Powerfleet (NASDAQ:AIOT) last issued its earnings results 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 firm had revenue of $75.43 million during the quarter, compared to the consensus estimate of $71.13 million. Powerfleet had a negative net margin of 3.86% and a negative return on equity of 6.61%. Equities analysts forecast 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.