Schwarz Dygos Wheeler Investment Advisors LLC Takes Position in PowerFleet, Inc. (NASDAQ:AIOT)

Schwarz Dygos Wheeler Investment Advisors LLC bought a new position in PowerFleet, Inc. (NASDAQ:AIOT - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 486,000 shares of the company's stock, valued at approximately $2,668,000. Schwarz Dygos Wheeler Investment Advisors LLC owned about 0.37% of PowerFleet at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Arizona State Retirement System acquired a new stake in shares of PowerFleet during the 1st quarter worth approximately $187,000. Brown Advisory Inc. acquired a new stake in shares of PowerFleet during the 1st quarter worth approximately $240,000. Bank of New York Mellon Corp grew its position in shares of PowerFleet by 8.8% during the 1st quarter. Bank of New York Mellon Corp now owns 268,639 shares of the company's stock worth $1,475,000 after buying an additional 21,785 shares during the period. Teacher Retirement System of Texas acquired a new stake in shares of PowerFleet during the 1st quarter worth approximately $95,000. Finally, Lisanti Capital Growth LLC acquired a new stake in shares of PowerFleet during the 1st quarter worth approximately $2,260,000. 73.40% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. Barrington Research reiterated an "outperform" rating and set a $15.00 price target on shares of PowerFleet in a research report on Friday, June 13th. Wall Street Zen upgraded shares of PowerFleet from a "sell" rating to a "hold" rating in a report on Saturday, June 21st. Raymond James Financial decreased their price objective on shares of PowerFleet from $10.00 to $8.00 and set an "outperform" rating for the company in a report on Tuesday, April 29th. Finally, Lake Street Capital set a $8.00 price objective on shares of PowerFleet and gave the company a "buy" rating in a report on Tuesday, May 27th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $10.50.

PowerFleet Trading Up 4.5%

NASDAQ AIOT traded up $0.19 during trading on Wednesday, reaching $4.40. 1,566,405 shares of the stock traded hands, compared to its average volume of 1,666,127. The firm has a market cap of $586.83 million, a price-to-earnings ratio of -10.23 and a beta of 1.32. PowerFleet, Inc. has a fifty-two week low of $3.70 and a fifty-two week high of $8.71. The company has a quick ratio of 1.00, a current ratio of 1.12 and a debt-to-equity ratio of 0.52. The stock's 50-day moving average price is $4.80 and its 200 day moving average price is $5.56.

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.