Charles Schwab Investment Management Inc. bought a new position in Powerfleet, Inc. (NASDAQ:AIOT - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 280,862 shares of the company's stock, valued at approximately $1,871,000. Charles Schwab Investment Management Inc. owned about 0.21% of Powerfleet as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds also recently made changes to their positions in the company. Financial Management Professionals Inc. bought a new position in Powerfleet during the 4th quarter valued at approximately $50,000. Spire Wealth Management bought a new position in shares of Powerfleet during the fourth quarter valued at approximately $55,000. Private Advisor Group LLC purchased a new stake in Powerfleet in the fourth quarter worth $68,000. New York State Common Retirement Fund bought a new stake in Powerfleet in the fourth quarter valued at $113,000. Finally, Oppenheimer Asset Management Inc. purchased a new position in Powerfleet during the 4th quarter valued at $118,000. 73.40% of the stock is owned by hedge funds and other institutional investors.
Powerfleet Trading Up 2.7 %
Shares of NASDAQ:AIOT traded up $0.15 during midday trading on Wednesday, reaching $5.64. The company's stock had a trading volume of 838,402 shares, compared to its average volume of 1,478,294. 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 50 day moving average of $6.50 and a 200-day moving average of $6.12. Powerfleet, Inc. has a 12-month low of $3.99 and a 12-month 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) EPS for the quarter, missing the consensus estimate of $0.02 by ($0.13). As a group, analysts predict that Powerfleet, Inc. will post -0.32 EPS for the current fiscal year.
Wall Street Analyst Weigh In
AIOT has been the subject of several research analyst reports. Lake Street Capital raised their target price on shares of Powerfleet from $7.00 to $11.00 and gave the stock a "buy" rating in a research report on Tuesday, February 11th. Northland Securities raised their price objective on shares of Powerfleet from $10.00 to $11.00 and gave the stock an "outperform" rating in a report on Tuesday, February 11th. Finally, Barrington Research reiterated an "outperform" rating and set a $15.00 target price on shares of Powerfleet in a report on Thursday, February 13th.
Read Our Latest Stock Analysis on AIOT
Powerfleet 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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