78,203 Shares in Powerfleet, Inc. (NASDAQ:AIOT) Bought by Divisadero Street Capital Management LP

Divisadero Street Capital Management LP purchased a new position in shares of Powerfleet, Inc. (NASDAQ:AIOT - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 78,203 shares of the company's stock, valued at approximately $521,000. Divisadero Street Capital Management LP owned 0.06% of Powerfleet at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Bosun Asset Management LLC acquired a new position in shares of Powerfleet during the fourth quarter worth about $415,000. Captrust Financial Advisors purchased a new stake in shares of Powerfleet during the 4th quarter valued at about $1,105,000. Bayesian Capital Management LP purchased a new stake in shares of Powerfleet during the 4th quarter valued at about $180,000. Bank of America Corp DE acquired a new position in Powerfleet during the 4th quarter worth approximately $1,487,000. Finally, BNP Paribas Financial Markets purchased a new position in Powerfleet in the 4th quarter worth approximately $86,000. 73.40% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on AIOT. Raymond James dropped their price objective on shares of Powerfleet from $10.00 to $8.00 and set an "outperform" rating on the stock in a research note on Tuesday, April 29th. Barrington Research reiterated an "outperform" rating and issued a $15.00 price objective on shares of Powerfleet in a report on Thursday, February 13th. Lake Street Capital upped their price objective on shares of Powerfleet from $7.00 to $11.00 and gave the company a "buy" rating in a research report on Tuesday, February 11th. Finally, Northland Securities lifted their target price on Powerfleet from $10.00 to $11.00 and gave the stock an "outperform" rating in a research report on Tuesday, February 11th. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has a consensus rating of "Buy" and an average price target of $11.25.

Powerfleet Trading Up 1.9 %

NASDAQ:AIOT traded up $0.10 during mid-day trading on Friday, reaching $5.31. The stock had a trading volume of 1,585,382 shares, compared to its average volume of 1,508,967. The company has a quick ratio of 1.02, a current ratio of 1.21 and a debt-to-equity ratio of 0.51. Powerfleet, Inc. has a 1-year low of $3.70 and a 1-year high of $8.71. The stock's 50 day simple moving average is $5.29 and its two-hundred day simple moving average is $6.05.

Powerfleet (NASDAQ:AIOT - Get Free Report) last issued 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). Research analysts anticipate that Powerfleet, Inc. will post -0.32 EPS for the current fiscal year.

Powerfleet 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.