Schwarz Dygos Wheeler Investment Advisors LLC acquired a new position in PowerFleet, Inc. (NASDAQ:AIOT - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 486,000 shares of the company's stock, valued at approximately $2,668,000. Schwarz Dygos Wheeler Investment Advisors LLC owned 0.37% of PowerFleet as of its most recent SEC filing.
Other hedge funds have also recently made changes to their positions in the company. Private Capital Management LLC bought a new position in PowerFleet during the fourth quarter valued at approximately $45,504,000. Vanguard Group Inc. purchased a new stake in shares of PowerFleet in the fourth quarter worth approximately $43,134,000. AWM Investment Company Inc. purchased a new stake in shares of PowerFleet in the fourth quarter worth approximately $31,000,000. Ontario Teachers Pension Plan Board purchased a new stake in shares of PowerFleet in the fourth quarter worth approximately $28,543,000. Finally, 325 Capital LLC bought a new position in PowerFleet in the fourth quarter worth approximately $24,737,000. Institutional investors own 73.40% of the company's stock.
Analyst Ratings Changes
Several brokerages recently issued reports on AIOT. Lake Street Capital set a $8.00 price objective on PowerFleet and gave the stock a "buy" rating in a research note on Tuesday, May 27th. Raymond James Financial lowered their price objective on PowerFleet from $10.00 to $8.00 and set an "outperform" rating for the company in a research report on Tuesday, April 29th. Barrington Research reissued an "outperform" rating and issued a $15.00 price objective on shares of PowerFleet in a research report on Friday, June 13th. Finally, Wall Street Zen raised PowerFleet from a "sell" rating to a "hold" rating in a research report on Saturday, June 21st. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $10.50.
Check Out Our Latest Research Report on PowerFleet
PowerFleet Stock Performance
AIOT stock traded down $0.10 during midday trading on Friday, reaching $4.44. The stock had a trading volume of 526,678 shares, compared to its average volume of 1,662,560. The stock has a market cap of $591.50 million, a PE ratio of -10.31 and a beta of 1.32. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.00 and a current ratio of 1.12. The firm has a fifty day simple moving average of $4.79 and a two-hundred day simple moving average of $5.55. PowerFleet, Inc. has a 52-week low of $3.70 and a 52-week high of $8.71.
PowerFleet Company Profile
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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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