Renaissance Technologies LLC acquired a new stake in shares of Powerfleet, Inc. (NASDAQ:AIOT - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 1,357,714 shares of the company's stock, valued at approximately $9,042,000. Renaissance Technologies LLC owned about 1.03% of Powerfleet as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Signaturefd LLC purchased a new stake in Powerfleet during the 4th quarter valued at $25,000. Financial Management Professionals Inc. bought a new position in Powerfleet in the fourth quarter valued at about $50,000. Spire Wealth Management purchased a new position in Powerfleet in the fourth quarter worth about $55,000. Legal & General Group Plc bought a new stake in shares of Powerfleet during the 4th quarter valued at about $58,000. Finally, Private Advisor Group LLC bought a new stake in shares of Powerfleet during the 4th quarter valued at about $68,000. Institutional investors own 73.40% of the company's stock.
Wall Street Analyst Weigh In
Several research analysts have recently weighed in on the stock. Lake Street Capital lifted their price target on shares of Powerfleet from $7.00 to $11.00 and gave the stock a "buy" rating in a research note on Tuesday, February 11th. Barrington Research reiterated an "outperform" rating and set a $15.00 target price on shares of Powerfleet in a research report on Thursday, February 13th. Finally, Northland Securities upped their price target on Powerfleet from $10.00 to $11.00 and gave the stock an "outperform" rating in a research report on Tuesday, February 11th.
View Our Latest Stock Report on Powerfleet
Powerfleet Price Performance
AIOT stock traded down $0.27 during trading on Monday, reaching $4.50. The company's stock had a trading volume of 1,013,334 shares, compared to its average volume of 1,535,655. The company's fifty day moving average is $6.02 and its 200-day moving average is $6.10. Powerfleet, Inc. has a 1 year low of $3.70 and a 1 year high of $8.71. The company has a current ratio of 1.21, a quick ratio of 1.02 and a debt-to-equity ratio of 0.51.
Powerfleet (NASDAQ:AIOT - Get Free Report) last released 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). Analysts predict that Powerfleet, Inc. will post -0.32 EPS for the current year.
Powerfleet Company 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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