Dimensional Fund Advisors LP Invests $7.29 Million in Powerfleet, Inc. (NASDAQ:AIOT)

Dimensional Fund Advisors LP acquired a new stake in shares of Powerfleet, Inc. (NASDAQ:AIOT - Free Report) in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 1,093,843 shares of the company's stock, valued at approximately $7,285,000. Dimensional Fund Advisors LP owned about 0.83% of Powerfleet at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Vanguard Group Inc. purchased a new position in Powerfleet in the 4th quarter worth $43,134,000. Ontario Teachers Pension Plan Board acquired a new stake in Powerfleet during the 4th quarter worth about $28,543,000. Royce & Associates LP acquired a new stake in Powerfleet during the 4th quarter worth about $24,487,000. Private Management Group Inc. acquired a new stake in Powerfleet during the 4th quarter worth about $23,147,000. Finally, Geode Capital Management LLC acquired a new stake in Powerfleet during the 4th quarter worth about $15,938,000. Hedge funds and other institutional investors own 73.40% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on AIOT shares. Raymond James cut their price target on Powerfleet from $10.00 to $8.00 and set an "outperform" rating on the stock in a research report on Tuesday, April 29th. Lake Street Capital lifted their price target on Powerfleet from $7.00 to $11.00 and gave the company a "buy" rating in a research note on Tuesday, February 11th. Northland Securities lifted their price target on Powerfleet from $10.00 to $11.00 and gave the company an "outperform" rating in a research note on Tuesday, February 11th. Finally, Barrington Research restated an "outperform" rating and issued a $15.00 price target on shares of Powerfleet in a research note on Thursday, February 13th. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has an average rating of "Buy" and an average price target of $11.25.

Powerfleet Price Performance

AIOT stock traded up $0.01 during trading on Friday, hitting $5.88. The stock had a trading volume of 219,758 shares, compared to its average volume of 1,504,709. The company has a current ratio of 1.21, a quick ratio of 1.02 and a debt-to-equity ratio of 0.51. Powerfleet, Inc. has a twelve month low of $3.70 and a twelve month high of $8.71. The company's 50-day moving average price is $5.28 and its two-hundred day moving average price is $6.07.

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, equities research analysts anticipate that Powerfleet, Inc. will post -0.32 EPS for the current fiscal year.

About Powerfleet

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.