Russell Investments Group Ltd. acquired a new stake in shares of Powerfleet, Inc. (NASDAQ:AIOT - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 1,011,046 shares of the company's stock, valued at approximately $6,734,000. Russell Investments Group Ltd. owned approximately 0.76% of Powerfleet at the end of the most recent reporting period.
Several other institutional investors have also modified their holdings of the business. Signaturefd LLC bought a new position in Powerfleet in the fourth quarter valued at approximately $25,000. Financial Management Professionals Inc. acquired a new stake in shares of Powerfleet during the fourth quarter worth $50,000. Spire Wealth Management acquired a new position in Powerfleet in the 4th quarter worth $55,000. Private Advisor Group LLC bought a new position in Powerfleet during the 4th quarter worth about $68,000. Finally, HighTower Advisors LLC acquired a new stake in shares of Powerfleet in the 4th quarter valued at about $84,000. Institutional investors own 73.40% of the company's stock.
Powerfleet Price Performance
Shares of NASDAQ:AIOT remained flat at $4.78 during trading on Tuesday. The company's stock had a trading volume of 1,510,987 shares, compared to its average volume of 1,542,826. Powerfleet, Inc. has a 52-week low of $3.70 and a 52-week high of $8.71. 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 firm has a fifty day simple moving average of $6.21 and a two-hundred day simple moving average of $6.10.
Powerfleet (NASDAQ:AIOT - Get Free Report) last issued 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 earnings per share for the current fiscal year.
Analysts Set New Price Targets
AIOT has been the subject of a number of research reports. Lake Street Capital increased their price objective on Powerfleet from $7.00 to $11.00 and gave the stock a "buy" rating in a report on Tuesday, February 11th. Northland Securities raised their price target 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, Barrington Research reissued an "outperform" rating and issued a $15.00 price objective on shares of Powerfleet in a research report on Thursday, February 13th.
Get Our Latest Stock Report on AIOT
About Powerfleet
(
Free Report)
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.
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