Russell Investments Group Ltd. acquired a new position in Powerfleet, Inc. (NASDAQ:AIOT - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 1,011,046 shares of the company's stock, valued at approximately $6,734,000. Russell Investments Group Ltd. owned approximately 0.76% of Powerfleet at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Kopion Asset Management LLC acquired a new position in shares of Powerfleet in the 4th quarter valued at $7,361,000. Yarbrough Capital LLC purchased a new position in Powerfleet in the fourth quarter valued at $372,000. Financial Management Professionals Inc. acquired a new position in shares of Powerfleet in the fourth quarter worth about $50,000. SG Americas Securities LLC purchased a new stake in shares of Powerfleet during the 4th quarter worth about $228,000. Finally, Inspire Investing LLC acquired a new stake in shares of Powerfleet during the 4th quarter valued at about $398,000. Institutional investors and hedge funds own 73.40% of the company's stock.
Powerfleet Trading Up 0.4 %
Shares of AIOT traded up $0.02 during midday trading on Friday, hitting $4.77. 1,077,840 shares of the stock were exchanged, compared to its average volume of 1,538,254. 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 stock has a fifty day simple moving average of $6.02 and a 200 day simple moving average of $6.08.
Powerfleet (NASDAQ:AIOT - Get Free Report) last released its earnings results on Monday, February 10th. The company reported ($0.11) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.02 by ($0.13). On average, sell-side analysts forecast that Powerfleet, Inc. will post -0.32 earnings per share for the current fiscal year.
Analyst Upgrades and Downgrades
AIOT has been the subject of a number of recent analyst reports. Northland Securities boosted their price objective on Powerfleet from $10.00 to $11.00 and gave the company an "outperform" rating in a research report on Tuesday, February 11th. Barrington Research reissued an "outperform" rating and issued a $15.00 price target on shares of Powerfleet in a report on Thursday, February 13th. Finally, Lake Street Capital increased their price objective on shares of Powerfleet from $7.00 to $11.00 and gave the company a "buy" rating in a report on Tuesday, February 11th.
Get Our Latest Research Report on AIOT
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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