Corient Private Wealth LLC Makes New $1.27 Million Investment in Powerfleet, Inc. (NASDAQ:AIOT)

Corient Private Wealth LLC acquired a new stake in shares of Powerfleet, Inc. (NASDAQ:AIOT - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 190,061 shares of the company's stock, valued at approximately $1,266,000. Corient Private Wealth LLC owned approximately 0.14% of Powerfleet as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Financial Management Professionals Inc. purchased a new stake in Powerfleet during the fourth quarter worth approximately $50,000. Spire Wealth Management purchased a new stake in shares of Powerfleet in the 4th quarter worth about $55,000. Private Advisor Group LLC purchased a new stake in Powerfleet in the 4th quarter valued at approximately $68,000. HighTower Advisors LLC acquired a new stake in shares of Powerfleet during the 4th quarter worth about $84,000. Finally, Victory Capital Management Inc. acquired a new position in Powerfleet in the 4th quarter valued at $103,000. Hedge funds and other institutional investors own 73.40% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. 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 report on Tuesday, February 11th. Lake Street Capital boosted their price objective on shares of 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 report on Thursday, February 13th.

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Powerfleet Stock Down 5.7 %

Powerfleet stock traded down $0.34 during trading on Friday, reaching $5.59. 1,717,351 shares of the company's stock were exchanged, compared to its average volume of 1,482,288. The company's 50-day moving average is $6.54 and its two-hundred day moving average is $6.10. The company has a quick ratio of 1.02, a current ratio of 1.21 and a debt-to-equity ratio of 0.51. Powerfleet, Inc. has a 52-week low of $3.99 and a 52-week high of $8.71.

Powerfleet (NASDAQ:AIOT - Get Free Report) last released its quarterly earnings results 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, analysts forecast 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.