PowerFleet Inc (NASDAQ:AIOT) shares, rose in value on Thursday, May 08, with the stock price up by 3.17% to the previous day’s close as strong demand from buyers drove the stock to $5.21.
Actively observing the price movement in the last trading, the stock closed the session at $5.05. Referring to stock’s 52-week performance, its high was $8.71, and the low was $3.70. On the whole, AIOT has fluctuated by 18.95% over the past month.
With the market capitalization of PowerFleet Inc currently standing at about $690.37 million, investors are eagerly awaiting this quarter’s results, scheduled for in June.
Projections by analysts suggest varying estimates for the company’s quarterly revenue. Analysts have estimated the company’s revenue for the quarter at 362.67M, with a low estimate of 103.3M and a high estimate of 104.4M. Wall Street analysts also predicted that the company’s y-o-y revenues would reach 103.79M.
Technical indicators serve as essential tools for traders, offering insights into market sentiment and potential price movements. We see that AIOT’s technical picture suggests that short-term indicators denote the stock is a 50% Sell on average. However, medium-term indicators have put the stock in the category of 100% Sell while long-term indicators on average have been pointing out that it is a 50% Sell.
The stock’s technical analysis shows that the price of AIOT currently trading nearly 5.83% and -4.04% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 52.19, while the 7-day volatility ratio is showing 3.95% which for the 30-day chart, stands at 6.33%. Furthermore, PowerFleet Inc (AIOT)’s beta value is 1.42, and its average true range (ATR) is 0.32.
Data on historical trading for PowerFleet Inc (NASDAQ:AIOT) indicates that the trading volumes over the past 3 months, they’ve averaged 2.01 million. According to company’s latest data on outstanding shares, there are 132.49 million shares outstanding.
Nearly 7.30% of PowerFleet Inc’s shares belong to company insiders and institutional investors own 76.04% of the company’s shares. The stock has fallen by -21.77% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the AIOT stock heading into the next quarter.
