In today’s recent session, 1.07 million shares of the PowerFleet Inc (NASDAQ:AIOT) have been traded, and its beta is 1.69. Most recently the company’s share price was $5.32, and it changed around $0.66 or 14.16% from the last close, which brings the market valuation of the company to $573.28M. AIOT at last check was trading at a discount to its 52-week high of $5.67, offering almost -6.58% off that amount. The share price’s 52-week low was $1.64, which indicates that the recent value has risen by an impressive 69.17% since then. We note from PowerFleet Inc’s average daily trading volume that its 10-day average is 0.67 million shares, with the 3-month average coming to 1.03 million.
PowerFleet Inc stock received a consensus recommendation rating of Buy, based on a mean score of 1.14. If we narrow it down even further, the data shows that 0 out of 8 analysts rate the stock as a Sell; another 2 rate it as Overweight. Among the rest, 0 recommended AIOT as a Hold, whereas 6 deemed it a Buy, and 0 rated it as Underweight. PowerFleet Inc is expected to report earnings per share of -0.02 for the current quarter.
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PowerFleet Inc (NASDAQ:AIOT) trade information
Instantly AIOT has been showing a green trend so far today with a performance of 14.16% on intraday trading today. The performance over the last five days has remained in the green territory. The rise to weekly highs of 5.50 on recent trading dayincreased the stock’s daily price by 3.27%. The company’s shares are currently up 55.56% year-to-date, but still up 18.22% over the last five days. On the other hand, PowerFleet Inc (NASDAQ:AIOT) is 8.35% up in the 30-day period. We can see from the shorts that 5.99 million shares have been sold at a short interest cover period of 6.85 day(s).
The consensus price target as assigned by Wall Street analysts is $9, which translates to bulls needing to increase their stock price by 40.89% from its current value. Analyst projections state that AIOT is forecast to be at a low of $9 and a high of $9.
PowerFleet Inc (AIOT) estimates and forecasts
Moreover, analysts have decided to roll up on their fiscal year 2024 revenue estimates. The rating firms predict that it will gain 83.30% in revenue this quarter, and will report an increase of 100.00% in the next quarter. The year-over-year growth rate is expected to be 125.00%, up from the previous year.
Consensus estimates provided by 7 financial analysts predict the company will bring in an average of 74.56M in revenue for the current quarter. 7 analysts expect PowerFleet Inc to make 76.14M in revenue for the current ending quarter. Forecasts for the next quarter put sales growth at 120.70%.
Looking at the company’s year-over-year earnings, the past five years showed a negative earnings growth rate of -30.10%. PowerFleet Inc earnings are expected to increase by -186.90% in 2024, but the outlook is positive 30.00% per year for the next five years.
AIOT Dividends
PowerFleet Inc’s next quarterly earnings report is expected to be released on 2024-Nov-07.
PowerFleet Inc (NASDAQ:AIOT)’s Major holders
Vanguard Total Stock Market Index Fund and iShares Russell 2000 ETF were the top two Mutual Funds as of Jun 30, 2024. The former held 3.18 shares worth $16.47 million, making up 2.95% of all outstanding shares. On the other hand, iShares Russell 2000 ETF held roughly 2.49 shares worth around $12.89 million, which represents about 2.31% of the total shares outstanding.
