Perritt Capital Management Inc acquired a new position in Powerfleet, Inc. (NASDAQ:AIOT - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 235,350 shares of the company's stock, valued at approximately $1,567,000. Powerfleet comprises 0.8% of Perritt Capital Management Inc's investment portfolio, making the stock its 22nd biggest holding. Perritt Capital Management Inc owned about 0.18% of Powerfleet as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently modified their holdings of AIOT. Signaturefd LLC purchased a new position in shares of Powerfleet during the 4th quarter valued at about $25,000. Financial Management Professionals Inc. purchased a new position in Powerfleet during the fourth quarter valued at approximately $50,000. Spire Wealth Management acquired a new position in Powerfleet in the fourth quarter valued at approximately $55,000. Private Advisor Group LLC purchased a new stake in Powerfleet in the 4th quarter worth approximately $68,000. Finally, HighTower Advisors LLC acquired a new stake in shares of Powerfleet during the 4th quarter worth approximately $84,000. Institutional investors and hedge funds own 73.40% of the company's stock.
Powerfleet Trading Up 6.4 %
Shares of NASDAQ:AIOT traded up $0.28 during midday trading on Monday, hitting $4.55. The company's stock had a trading volume of 1,337,491 shares, compared to its average volume of 2,132,585. Powerfleet, Inc. has a 12-month low of $3.70 and a 12-month high of $8.71. The business's 50 day simple moving average is $6.42 and its 200 day simple moving average is $6.12. 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 (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 the consensus estimate of $0.02 by ($0.13). Sell-side analysts forecast that Powerfleet, Inc. will post -0.32 EPS for the current year.
Wall Street Analyst Weigh In
A number of brokerages recently issued reports on AIOT. Northland Securities increased their price target on shares of Powerfleet from $10.00 to $11.00 and gave the stock an "outperform" rating in a report on Tuesday, February 11th. Lake Street Capital lifted 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. Finally, Barrington Research reiterated an "outperform" rating and set a $15.00 price objective on shares of Powerfleet in a research note on Thursday, February 13th.
Check Out Our Latest Research Report on AIOT
Powerfleet Company Profile
(
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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