Rhumbline Advisers Buys New Position in Powerfleet, Inc. (NASDAQ:AIOT)

Rhumbline Advisers bought a new stake in Powerfleet, Inc. (NASDAQ:AIOT - Free Report) in the 4th quarter, according to its most recent disclosure with the SEC. The fund bought 137,451 shares of the company's stock, valued at approximately $915,000. Rhumbline Advisers owned approximately 0.10% of Powerfleet at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Financial Management Professionals Inc. acquired a new position in shares of Powerfleet in the fourth quarter valued at approximately $50,000. Spire Wealth Management acquired a new position in shares of Powerfleet in the fourth quarter worth $55,000. SG Americas Securities LLC purchased a new stake in shares of Powerfleet during the fourth quarter worth $228,000. Yarbrough Capital LLC purchased a new stake in shares of Powerfleet during the fourth quarter worth $372,000. Finally, Inspire Investing LLC acquired a new stake in shares of Powerfleet in the fourth quarter valued at $398,000. 73.40% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

AIOT has been the subject of several analyst reports. William Blair reissued an "outperform" rating on shares of Powerfleet in a research note on Thursday, November 21st. Lake Street Capital boosted their price objective on Powerfleet from $7.00 to $11.00 and gave the stock a "buy" rating in a research report on Tuesday, February 11th. Northland Securities upped their target price 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, Barrington Research reiterated an "outperform" rating and set a $15.00 price target on shares of Powerfleet in a report on Thursday, February 13th.

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Powerfleet Price Performance

NASDAQ AIOT traded down $0.32 during trading on Monday, reaching $5.61. 2,089,691 shares of the company's stock were exchanged, compared to its average volume of 2,275,120. The company has a 50 day moving average price of $6.62 and a two-hundred day moving average price of $5.99. Powerfleet, Inc. has a 1 year low of $2.88 and a 1 year high of $8.71. 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 (NASDAQ:AIOT - Get Free Report) last posted its 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). Sell-side analysts forecast that Powerfleet, Inc. will post -0.32 EPS 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.