12,583 Shares in Powerfleet, Inc. (NASDAQ:AIOT) Purchased by HighTower Advisors LLC

HighTower Advisors LLC bought a new stake in shares of Powerfleet, Inc. (NASDAQ:AIOT) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 12,583 shares of the company’s stock, valued at approximately $84,000.

Other large investors also recently modified their holdings of the company. Kopion Asset Management LLC bought a new position in Powerfleet during the fourth quarter valued at $7,361,000. Yarbrough Capital LLC purchased a new stake in Powerfleet during the fourth quarter valued at about $372,000. Financial Management Professionals Inc. bought a new position in Powerfleet during the fourth quarter worth about $50,000. SG Americas Securities LLC purchased a new position in shares of Powerfleet in the fourth quarter worth about $228,000. Finally, Inspire Investing LLC bought a new stake in shares of Powerfleet in the fourth quarter valued at approximately $398,000. Hedge funds and other institutional investors own 73.40% of the company’s stock.

Analyst Upgrades and Downgrades

AIOT has been the topic of a number of analyst reports. Northland Securities boosted their target price on shares of Powerfleet from $10.00 to $11.00 and gave the company an “outperform” rating in a report on Tuesday, February 11th. Barrington Research reaffirmed an “outperform” rating and set a $15.00 target price on shares of Powerfleet in a report on Thursday, February 13th. Finally, Lake Street Capital raised their price objective on shares of Powerfleet from $7.00 to $11.00 and gave the company a “buy” rating in a research report on Tuesday, February 11th.

Powerfleet Stock Performance

Shares of NASDAQ AIOT opened at $4.27 on Friday. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.21 and a quick ratio of 1.02. The business has a 50-day moving average of $6.42 and a 200-day moving average of $6.10. Powerfleet, Inc. has a 12 month low of $3.70 and a 12 month high of $8.71.

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

About Powerfleet

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.