Charles Schwab Investment Management Inc. Invests $1.87 Million in Powerfleet, Inc. (NASDAQ:AIOT)

Charles Schwab Investment Management Inc. purchased a new stake in shares of Powerfleet, Inc. (NASDAQ:AIOT) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 280,862 shares of the company’s stock, valued at approximately $1,871,000. Charles Schwab Investment Management Inc. owned approximately 0.21% of Powerfleet at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Financial Management Professionals Inc. acquired a new position in Powerfleet in the fourth quarter valued at $50,000. Spire Wealth Management bought a new stake in Powerfleet during the 4th quarter worth approximately $55,000. Private Advisor Group LLC bought a new position in Powerfleet during the 4th quarter valued at $68,000. New York State Common Retirement Fund bought a new position in shares of Powerfleet during the 4th quarter worth approximately $113,000. Finally, Oppenheimer Asset Management Inc. purchased a new stake in shares of Powerfleet during the 4th quarter valued at $118,000. 73.40% of the stock is currently owned by institutional investors and hedge funds.

Powerfleet Stock Down 5.7 %

Shares of NASDAQ AIOT opened at $5.59 on Friday. The firm has a fifty day simple moving average of $6.54 and a two-hundred day simple moving average of $6.09. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.02 and a current ratio of 1.21. Powerfleet, Inc. has a 12 month low of $3.99 and a 12 month high of $8.71.

Powerfleet (NASDAQ:AIOT) last released its earnings results on Monday, February 10th. The company reported ($0.11) earnings per share for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.13). Equities research analysts expect that Powerfleet, Inc. will post -0.32 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the company. Northland Securities boosted their price objective on Powerfleet from $10.00 to $11.00 and gave the company an “outperform” rating in a research note on Tuesday, February 11th. Lake Street Capital increased their target price on Powerfleet from $7.00 to $11.00 and gave the company a “buy” rating in a research note on Tuesday, February 11th. Finally, Barrington Research reiterated an “outperform” rating and issued a $15.00 target price on shares of Powerfleet in a research report on Thursday, February 13th.

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.