Barclays PLC Buys Shares of 777,544 Powerfleet, Inc. (NASDAQ:AIOT)

Barclays PLC bought a new stake in Powerfleet, Inc. (NASDAQ:AIOT - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 777,544 shares of the company's stock, valued at approximately $5,179,000. Barclays PLC owned 0.59% of Powerfleet at the end of the most recent quarter.

Several other large investors have also modified their holdings of the stock. Vanguard Group Inc. purchased a new position in Powerfleet in the 4th quarter valued at $43,134,000. Royce & Associates LP purchased a new stake in shares of Powerfleet in the fourth quarter valued at about $24,487,000. Private Management Group Inc. purchased a new stake in shares of Powerfleet in the fourth quarter valued at about $23,147,000. Geode Capital Management LLC acquired a new position in shares of Powerfleet during the fourth quarter worth about $15,938,000. Finally, Bandera Partners LLC purchased a new position in Powerfleet during the fourth quarter worth about $12,416,000. Hedge funds and other institutional investors own 73.40% of the company's stock.

Analyst Ratings Changes

Several research firms have issued reports on AIOT. Raymond James dropped their target price on Powerfleet from $10.00 to $8.00 and set an "outperform" rating on the stock in a research report on Tuesday. Barrington Research reaffirmed an "outperform" rating and set a $15.00 price objective on shares of Powerfleet in a report on Thursday, February 13th. Northland Securities raised their target price on Powerfleet from $10.00 to $11.00 and gave the company an "outperform" rating in a report on Tuesday, February 11th. Finally, Lake Street Capital upped 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. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus target price of $11.25.

Powerfleet Price Performance

NASDAQ AIOT traded up $0.08 during mid-day trading on Thursday, hitting $5.12. The stock had a trading volume of 358,973 shares, compared to its average volume of 1,510,619. The company has a 50 day simple moving average of $5.54 and a 200 day simple moving average of $6.07. Powerfleet, Inc. has a 52-week low of $3.70 and a 52-week high of $8.71. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.02 and a current ratio of 1.21.

Powerfleet (NASDAQ:AIOT - Get Free Report) last announced its quarterly earnings results on Monday, February 10th. The company reported ($0.11) earnings per share for the quarter, missing analysts' consensus estimates of $0.02 by ($0.13). On average, equities research analysts predict 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.