Quantbot Technologies LP Buys New Shares in Powerfleet, Inc. (NASDAQ:AIOT)

Quantbot Technologies LP purchased a new position in shares of Powerfleet, Inc. (NASDAQ:AIOT - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 52,097 shares of the company's stock, valued at approximately $347,000.

Other large investors have also modified their holdings of the company. Signaturefd LLC bought a new position in shares of Powerfleet in the fourth quarter worth about $25,000. Corient Private Wealth LLC purchased a new stake in Powerfleet during the 4th quarter valued at about $1,266,000. Royce & Associates LP purchased a new position in Powerfleet during the 4th quarter worth approximately $24,487,000. HighTower Advisors LLC purchased a new position in shares of Powerfleet during the fourth quarter worth $84,000. Finally, Raymond James Financial Inc. purchased a new position in shares of Powerfleet during the 4th quarter valued at about $4,731,000. Hedge funds and other institutional investors own 73.40% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. Barrington Research reaffirmed an "outperform" rating and set a $15.00 target price on shares of Powerfleet in a report on Thursday, February 13th. Northland Securities lifted their price target on 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 upped their price objective on shares of Powerfleet from $7.00 to $11.00 and gave the company a "buy" rating in a research note on Tuesday, February 11th.

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Powerfleet Stock Performance

Shares of AIOT stock traded up $0.15 during trading on Wednesday, hitting $5.64. 838,402 shares of the stock traded hands, compared to its average volume of 1,478,294. The firm's fifty day moving average price is $6.50 and its 200-day moving average price is $6.12. 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 52-week low of $3.99 and a 52-week high of $8.71.

Powerfleet (NASDAQ:AIOT - Get Free Report) last announced its quarterly earnings results on Monday, February 10th. The company reported ($0.11) earnings per share for the quarter, missing analysts' consensus estimates of $0.02 by ($0.13). Analysts anticipate that Powerfleet, Inc. will post -0.32 earnings per share for the current 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.