PowerFleet Inc (NASDAQ:AIOT) price on Thursday, February 27, fall -6.23% below its previous day’s close as a downside momentum from buyers pushed the stock’s value to $6.92.
A look at the stock’s price movement, the close in the last trading session was $7.38. Turning to its 52-week performance, $8.71 and $2.88 were the 52-week high and 52-week low respectively. Overall, AIOT moved 12.89% over the past month.
PowerFleet Inc’s market cap currently stands at around $916.97 million, with investors looking forward to this quarter’s earnings report slated for in March.
Analysts have a consensus estimate of 103.79M for the company’s revenue for the quarter, with a low and high estimate of 103.3M and 104.4M respectively. The average forecast suggests up to a 207.63% growth in sales growth compared to quarterly growth in the same period last fiscal year.
Turning to the stock’s technical picture we see that short term indicators suggest on average that AIOT is a 50% Buy. On the other hand, the stock is on average a 100% Buy as suggested by medium term indicators while long term indicators are putting the stock in 100% Buy category.
AIOT’s current price about -2.88% and 3.84% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 47.95, while 7-day volatility ratio is 6.88% and 7.04% in the 30-day chart. Further, PowerFleet Inc (AIOT) has a beta value of 1.77, and an average true range (ATR) of 0.48. Analysts have given the company’s stock an average 52-week price target of $7, forecast between a low of $7 and high of $7. Looking at the price targets, the low is -1.16% off current price level while to achieve the yearly target high, price needs to move -1.16%. Nonetheless, investors will most likely welcome a -1.16% jump to $7 which is the analysts’ median price.
If we refocus on PowerFleet Inc (NASDAQ:AIOT), historical trading data shows that trading volumes averaged 2.13 million over the past 3 months. The company’s latest data on shares outstanding shows there are 132.49 million shares.
The 5.54% of PowerFleet Inc’s shares are in the hands of company insiders while institutional holders own 72.90% of the company’s shares. Current price change has pushed the stock 3.90% YTD, which shows the potential for further growth is there. It is this reason that could see investor optimism for the AIOT stock continues to rise going into the next quarter.
