Alliancebernstein L.P. Makes New Investment in Powerfleet, Inc. (NASDAQ:AIOT)

Alliancebernstein L.P. purchased a new position in Powerfleet, Inc. (NASDAQ:AIOT - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 94,130 shares of the company's stock, valued at approximately $627,000. Alliancebernstein L.P. owned 0.07% of Powerfleet at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Signaturefd LLC bought a new stake in shares of Powerfleet in the fourth quarter worth about $25,000. Financial Management Professionals Inc. bought a new stake in Powerfleet in the 4th quarter worth approximately $50,000. Spire Wealth Management purchased a new stake in shares of Powerfleet during the 4th quarter worth approximately $55,000. Private Advisor Group LLC bought a new position in shares of Powerfleet during the 4th quarter valued at approximately $68,000. Finally, HighTower Advisors LLC purchased a new position in shares of Powerfleet in the fourth quarter valued at $84,000. 73.40% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on AIOT shares. Barrington Research reaffirmed an "outperform" rating and set a $15.00 price target on shares of Powerfleet in a research note on Thursday, February 13th. Lake Street Capital increased their price target on shares of Powerfleet from $7.00 to $11.00 and gave the company a "buy" rating in a report on Tuesday, February 11th. Finally, Northland Securities lifted their price target on Powerfleet from $10.00 to $11.00 and gave the stock an "outperform" rating in a research report on Tuesday, February 11th.

Powerfleet Stock Performance

AIOT stock traded down $0.27 during mid-day trading on Monday, reaching $4.50. 1,013,334 shares of the stock traded hands, compared to its average volume of 1,535,655. The business has a 50-day moving average price of $6.02 and a two-hundred day moving average price of $6.10. The company has a current ratio of 1.21, a quick ratio of 1.02 and a debt-to-equity ratio of 0.51. Powerfleet, Inc. has a one year low of $3.70 and a one year high of $8.71.

Powerfleet (NASDAQ:AIOT - Get Free Report) last posted its quarterly earnings data 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). As a group, analysts forecast that Powerfleet, Inc. will post -0.32 earnings per share for the current fiscal year.

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.