AEGON ASSET MANAGEMENT UK Plc lifted its holdings in shares of Powerfleet, Inc. (NASDAQ:AIOT - Free Report) by 42.9% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,378,418 shares of the company's stock after purchasing an additional 714,229 shares during the period. AEGON ASSET MANAGEMENT UK Plc owned about 1.79% of Powerfleet worth $13,010,000 as of its most recent SEC filing.
A number of other hedge funds have also modified their holdings of AIOT. Private Capital Management LLC purchased a new stake in Powerfleet during the 4th quarter worth about $45,504,000. Vanguard Group Inc. purchased a new stake in shares of Powerfleet during the fourth quarter worth about $43,134,000. AWM Investment Company Inc. purchased a new stake in shares of Powerfleet during the fourth quarter worth about $31,000,000. Ontario Teachers Pension Plan Board purchased a new stake in shares of Powerfleet during the fourth quarter worth about $28,543,000. Finally, 325 Capital LLC purchased a new stake in shares of Powerfleet in the fourth quarter valued at $24,737,000. 73.40% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
AIOT has been the subject of a number of recent analyst reports. Northland Securities lifted their price objective on Powerfleet from $10.00 to $11.00 and gave the company an "outperform" rating in a research report on Tuesday, February 11th. Raymond James lowered their price target on Powerfleet from $10.00 to $8.00 and set an "outperform" rating for the company in a report on Tuesday, April 29th. Barrington Research reissued an "outperform" rating and set a $15.00 price objective on shares of Powerfleet in a research note on Friday, May 23rd. Finally, Lake Street Capital set a $8.00 price objective on shares of Powerfleet and gave the stock a "buy" rating in a research note on Tuesday, May 27th. Five investment analysts have rated the stock with a buy rating, According to MarketBeat, Powerfleet currently has a consensus rating of "Buy" and a consensus price target of $10.50.
Check Out Our Latest Analysis on AIOT
Powerfleet Stock Performance
Shares of NASDAQ:AIOT traded up $0.09 during trading hours on Friday, hitting $4.70. 1,084,055 shares of the company's stock traded hands, compared to its average volume of 1,564,207. 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. The company's fifty day simple moving average is $5.02 and its two-hundred day simple moving average is $6.02.
About Powerfleet
(
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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