Ontario Teachers Pension Plan Board Purchases New Stake in Powerfleet, Inc. (NASDAQ:AIOT)

Ontario Teachers Pension Plan Board purchased a new position in Powerfleet, Inc. (NASDAQ:AIOT - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 4,285,714 shares of the company's stock, valued at approximately $28,543,000. Powerfleet comprises about 0.3% of Ontario Teachers Pension Plan Board's holdings, making the stock its 25th largest holding. Ontario Teachers Pension Plan Board owned about 3.24% of Powerfleet at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. acquired a new stake in shares of Powerfleet during the 4th quarter valued at approximately $43,134,000. Royce & Associates LP bought a new stake in Powerfleet during the fourth quarter valued at $24,487,000. Private Management Group Inc. acquired a new stake in shares of Powerfleet during the fourth quarter worth $23,147,000. Geode Capital Management LLC bought a new position in shares of Powerfleet in the 4th quarter worth about $15,938,000. Finally, Bandera Partners LLC acquired a new position in shares of Powerfleet in the 4th quarter valued at about $12,416,000. 73.40% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Powerfleet Stock Performance

Shares of NASDAQ AIOT traded up $0.02 during midday trading on Friday, hitting $4.77. 1,077,840 shares of the company's stock were exchanged, compared to its average volume of 1,538,254. Powerfleet, Inc. has a twelve month low of $3.70 and a twelve month high of $8.71. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.02 and a current ratio of 1.21. The stock's 50 day moving average price is $6.02 and its 200-day moving average price is $6.09.

Powerfleet (NASDAQ:AIOT - Get Free Report) last posted 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 anticipate that Powerfleet, Inc. will post -0.32 earnings per share 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.