Sei Investments Co. Acquires New Shares in Powerfleet, Inc. (NASDAQ:AIOT)

Sei Investments Co. 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 firm bought 122,070 shares of the company's stock, valued at approximately $813,000. Sei Investments Co. owned approximately 0.09% of Powerfleet at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Signaturefd LLC purchased a new position in Powerfleet during the 4th quarter valued at about $25,000. Financial Management Professionals Inc. acquired a new stake in shares of Powerfleet in the 4th quarter valued at $50,000. Spire Wealth Management acquired a new stake in shares of Powerfleet in the fourth quarter worth about $55,000. Private Advisor Group LLC bought a new stake in Powerfleet during the fourth quarter worth approximately $68,000. Finally, HighTower Advisors LLC bought a new stake in shares of Powerfleet during the 4th quarter worth $84,000. Institutional investors and hedge funds own 73.40% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on AIOT. Lake Street Capital raised their target price on Powerfleet from $7.00 to $11.00 and gave the company a "buy" rating in a report on Tuesday, February 11th. Northland Securities increased their target price on Powerfleet from $10.00 to $11.00 and gave the stock an "outperform" rating in a report on Tuesday, February 11th. Finally, Barrington Research reissued 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 Trading Up 3.9 %

Shares of NASDAQ AIOT traded up $0.18 during trading on Friday, reaching $4.84. The company had a trading volume of 1,475,863 shares, compared to its average volume of 1,544,264. Powerfleet, Inc. has a 52 week low of $3.70 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 moving average price is $6.23 and its 200-day moving average price is $6.10.

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, research analysts forecast that Powerfleet, Inc. will post -0.32 EPS 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.