10,142 Shares in Powerfleet, Inc. (NASDAQ:AIOT) Bought by Private Advisor Group LLC

Private Advisor Group LLC acquired a new position in shares of Powerfleet, Inc. (NASDAQ:AIOT) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 10,142 shares of the company’s stock, valued at approximately $68,000.

Several other hedge funds have also added to or reduced their stakes in AIOT. Private Management Group Inc. acquired a new stake in Powerfleet during the 4th quarter worth $23,147,000. AEGON ASSET MANAGEMENT UK Plc acquired a new stake in Powerfleet during the 4th quarter worth $11,034,000. Hodges Capital Management Inc. acquired a new stake in Powerfleet during the 4th quarter worth $10,982,000. Kopion Asset Management LLC acquired a new stake in shares of Powerfleet in the 4th quarter valued at about $7,361,000. Finally, Rice Hall James & Associates LLC acquired a new stake in shares of Powerfleet in the 4th quarter valued at about $2,706,000. Institutional investors and hedge funds own 73.40% of the company’s stock.

Powerfleet Trading Down 1.2 %

NASDAQ:AIOT opened at $5.93 on Friday. The company has a quick ratio of 1.02, a current ratio of 1.21 and a debt-to-equity ratio of 0.51. The stock’s 50-day simple moving average is $6.62 and its 200 day simple moving average is $5.98. Powerfleet, Inc. has a 52-week low of $2.88 and a 52-week high of $8.71.

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

Wall Street Analysts Forecast Growth

Several research firms have issued reports on AIOT. Northland Securities lifted their price target 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 lifted their price target on Powerfleet from $7.00 to $11.00 and gave the company a “buy” rating in a research note on Tuesday, February 11th. Barrington Research reissued an “outperform” rating and issued a $15.00 price target on shares of Powerfleet in a research note on Thursday, February 13th. Finally, William Blair reissued an “outperform” rating on shares of Powerfleet in a research note on Thursday, November 21st.

Powerfleet 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.