CenterBook Partners LP Makes New $2.45 Million Investment in Powerfleet, Inc. (NASDAQ:AIOT)

CenterBook Partners LP purchased a new stake in shares of Powerfleet, Inc. (NASDAQ:AIOT - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 367,152 shares of the company's stock, valued at approximately $2,445,000. CenterBook Partners LP owned 0.28% of Powerfleet at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. AEGON ASSET MANAGEMENT UK Plc acquired a new position in Powerfleet during the 4th quarter worth approximately $11,034,000. Kopion Asset Management LLC bought a new stake in shares of Powerfleet in the 4th quarter valued at approximately $7,361,000. Hodges Capital Management Inc. acquired a new stake in shares of Powerfleet during the fourth quarter worth $10,982,000. Inspire Investing LLC bought a new position in Powerfleet in the fourth quarter worth about $398,000. Finally, Oppenheimer Asset Management Inc. acquired a new position in Powerfleet during the 4th quarter valued at approximately $118,000. Hedge funds and other institutional investors own 73.40% of the company's stock.

Wall Street Analysts Forecast Growth

AIOT has been the topic of several recent research reports. Northland Securities lifted their price objective on shares of Powerfleet from $10.00 to $11.00 and gave the company an "outperform" rating in a research report on Tuesday, February 11th. Barrington Research reaffirmed an "outperform" rating and issued a $15.00 price objective on shares of Powerfleet in a research note on Thursday, February 13th. Finally, Lake Street Capital lifted their price target on Powerfleet from $7.00 to $11.00 and gave the stock a "buy" rating in a research note on Tuesday, February 11th.

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Powerfleet Trading Up 1.3 %

AIOT stock traded up $0.06 during midday trading on Tuesday, reaching $4.84. The company had a trading volume of 780,093 shares, compared to its average volume of 1,539,360. The company has a 50 day moving average of $6.21 and a two-hundred day moving average of $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 1 year low of $3.70 and a 1 year high of $8.71.

Powerfleet (NASDAQ:AIOT - Get Free Report) last released its quarterly earnings data on Monday, February 10th. The company reported ($0.11) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.02 by ($0.13). As a group, equities analysts expect 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.