Powerfleet (NASDAQ:AIOT) Stock Price Down 5.6%

Shares of Powerfleet, Inc. (NASDAQ:AIOT) dropped 5.6% during trading on Monday . The stock traded as low as $4.66 and last traded at $4.68. Approximately 499,168 shares traded hands during mid-day trading, a decline of 37% from the average daily volume of 790,116 shares. The stock had previously closed at $4.96.

Wall Street Analysts Forecast Growth

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

Powerfleet Stock Down 3.8 %

The firm has a fifty day simple moving average of $4.76. The company has a current ratio of 1.23, a quick ratio of 0.99 and a debt-to-equity ratio of 0.29. The company has a market capitalization of $512.06 million, a PE ratio of -16.00 and a beta of 1.68.

Powerfleet (NASDAQ:AIOT) last released its quarterly 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). The business had revenue of $75.43 million for 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 anticipate that Powerfleet, Inc. will post -0.16 earnings per share for the current fiscal year.

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.