Royce & Associates LP bought a new position in Powerfleet, Inc. (NASDAQ:AIOT - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 3,676,755 shares of the company's stock, valued at approximately $24,487,000. Royce & Associates LP owned approximately 2.78% of Powerfleet at the end of the most recent quarter.
Other institutional investors have also recently modified their holdings of the company. AEGON ASSET MANAGEMENT UK Plc bought a new stake in shares of Powerfleet during the fourth quarter valued at approximately $11,034,000. Kopion Asset Management LLC purchased a new stake in Powerfleet during the 4th quarter valued at $7,361,000. Hodges Capital Management Inc. bought a new stake in shares of Powerfleet in the 4th quarter worth $10,982,000. Inspire Investing LLC purchased a new position in shares of Powerfleet in the fourth quarter worth $398,000. Finally, Oppenheimer Asset Management Inc. bought a new position in shares of Powerfleet during the fourth quarter valued at $118,000. 73.40% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
AIOT has been the subject of several research analyst reports. Lake Street Capital lifted their price objective on Powerfleet from $7.00 to $11.00 and gave the stock a "buy" rating in a report on Tuesday, February 11th. Barrington Research reiterated an "outperform" rating and issued a $15.00 price target on shares of Powerfleet in a research note on Thursday, February 13th. Northland Securities increased their price objective on shares of Powerfleet from $10.00 to $11.00 and gave the company an "outperform" rating in a research report on Tuesday, February 11th. Finally, William Blair reaffirmed an "outperform" rating on shares of Powerfleet in a research report on Thursday, November 21st.
Get Our Latest Report on Powerfleet
Powerfleet Stock Performance
NASDAQ:AIOT traded down $0.21 on Thursday, hitting $5.82. The stock had a trading volume of 941,212 shares, compared to its average volume of 1,454,847. Powerfleet, Inc. has a 52-week low of $3.99 and a 52-week 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. The business's 50-day simple moving average is $6.53 and its two-hundred day simple moving average is $6.04.
Powerfleet (NASDAQ:AIOT - Get Free Report) last announced its earnings results 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). Sell-side analysts predict that Powerfleet, Inc. will post -0.32 earnings per share 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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