Equitable Trust Co. Invests $1.62 Million in Powerfleet, Inc. (NASDAQ:AIOT)

Equitable Trust Co. acquired a new stake in Powerfleet, Inc. (NASDAQ:AIOT - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 243,072 shares of the company's stock, valued at approximately $1,619,000. Equitable Trust Co. owned about 0.18% of Powerfleet at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of AIOT. Private Management Group Inc. purchased a new position in Powerfleet in the fourth quarter valued at approximately $23,147,000. AEGON ASSET MANAGEMENT UK Plc purchased a new stake in shares of Powerfleet during the fourth quarter worth $11,034,000. Hodges Capital Management Inc. purchased a new stake in shares of Powerfleet during the fourth quarter worth $10,982,000. Kopion Asset Management LLC purchased a new stake in shares of Powerfleet during the fourth quarter worth $7,361,000. Finally, Calamos Advisors LLC purchased a new stake in shares of Powerfleet during the fourth quarter worth $2,191,000. Hedge funds and other institutional investors own 73.40% of the company's stock.

Insider Transactions at Powerfleet

In other Powerfleet news, insider Catherine J. Lewis sold 82,010 shares of the firm's stock in a transaction dated Thursday, December 5th. The stock was sold at an average price of $7.05, for a total transaction of $578,170.50. Following the sale, the insider now owns 240,962 shares in the company, valued at $1,698,782.10. This trade represents a 25.39 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 7.79% of the company's stock.

Powerfleet Stock Performance

Shares of Powerfleet stock traded up $0.03 during trading on Friday, hitting $8.10. The stock had a trading volume of 1,633,137 shares, compared to its average volume of 2,339,551. Powerfleet, Inc. has a 12 month low of $2.85 and a 12 month high of $8.71. The business's 50-day moving average is $6.50 and its 200 day moving average is $5.70. The company has a current ratio of 1.71, a quick ratio of 1.51 and a debt-to-equity ratio of 0.25.

Powerfleet (NASDAQ:AIOT - Get Free Report) last released its quarterly 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). On average, sell-side analysts expect that Powerfleet, Inc. will post -0.14 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms have issued reports on AIOT. William Blair restated an "outperform" rating on shares of Powerfleet in a research report on Thursday, November 21st. Northland Securities increased their target price on Powerfleet from $10.00 to $11.00 and gave the stock an "outperform" rating in a research report on Tuesday. Lake Street Capital increased their target price on Powerfleet from $7.00 to $11.00 and gave the stock a "buy" rating in a research report on Tuesday. Finally, Barrington Research restated an "outperform" rating and set a $15.00 target price on shares of Powerfleet in a research report on Thursday.

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.