Diametric Capital LP Invests $646,000 in Powerfleet, Inc. (NASDAQ:AIOT)

Diametric Capital LP purchased a new position in Powerfleet, Inc. (NASDAQ:AIOT - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 96,982 shares of the company's stock, valued at approximately $646,000. Diametric Capital LP owned about 0.07% of Powerfleet at the end of the most recent quarter.

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

Powerfleet Stock Performance

Powerfleet stock traded down $0.53 during mid-day trading on Friday, hitting $4.27. The company had a trading volume of 7,720,566 shares, compared to its average volume of 1,521,314. Powerfleet, Inc. has a 12-month low of $3.70 and a 12-month high of $8.71. The company's fifty day moving average is $6.42 and its 200-day moving average is $6.11. The company has a current ratio of 1.21, a quick ratio of 1.02 and a debt-to-equity ratio of 0.51.

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Powerfleet (NASDAQ:AIOT - Get Free Report) last posted its earnings results 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). On average, research analysts expect that Powerfleet, Inc. will post -0.32 earnings per share for the current year.

Analyst Ratings Changes

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

About Powerfleet

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.