17,648 Shares in Powerfleet, Inc. (NASDAQ:AIOT) Acquired by Oppenheimer Asset Management Inc.

Oppenheimer Asset Management Inc. acquired a new stake in Powerfleet, Inc. (NASDAQ:AIOT) during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 17,648 shares of the company’s stock, valued at approximately $118,000.

Several other institutional investors have also added to or reduced their stakes in AIOT. Private Management Group Inc. purchased a new position in shares of Powerfleet in the 4th quarter worth $23,147,000. AEGON ASSET MANAGEMENT UK Plc purchased a new position in Powerfleet in the fourth quarter worth about $11,034,000. Hodges Capital Management Inc. purchased a new position in Powerfleet in the fourth quarter worth about $10,982,000. AMH Equity Ltd bought a new stake in shares of Powerfleet during the 4th quarter valued at about $7,819,000. Finally, Kopion Asset Management LLC purchased a new stake in shares of Powerfleet during the 4th quarter valued at about $7,361,000. 73.40% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on AIOT shares. Lake Street Capital lifted their target price on Powerfleet from $7.00 to $11.00 and gave the company a “buy” rating in a research report on Tuesday, February 11th. Barrington Research reiterated an “outperform” rating and set a $15.00 price objective on shares of Powerfleet in a research note on Thursday, February 13th. Northland Securities raised their target price on shares of Powerfleet from $10.00 to $11.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 11th. Finally, William Blair reaffirmed an “outperform” rating on shares of Powerfleet in a report on Thursday, November 21st.

Powerfleet Price Performance

Shares of Powerfleet stock opened at $5.93 on Friday. The stock has a 50 day moving average of $6.62 and a 200 day moving average of $5.98. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.21 and a quick ratio of 1.02. Powerfleet, Inc. has a 12 month low of $2.88 and a 12 month high of $8.71.

Powerfleet (NASDAQ:AIOT) last released its quarterly earnings data on Monday, February 10th. The company reported ($0.11) EPS for the quarter, missing the consensus estimate of $0.02 by ($0.13). As a group, equities analysts expect that Powerfleet, Inc. will post -0.32 EPS for the current fiscal year.

Powerfleet Company Profile

PowerFleet, Inc engages in the provision of fleet management solutions for logistics, industrial, and vehicles. It offers wireless Internet of Things and machine to machine solutions for securing, controlling, tracking, and managing enterprise assets such as industrial trucks, tractor trailers, containers, cargo, and vehicle and truck fleets.