Bank of America Corp DE purchased a new position in shares of Powerfleet, Inc. (NASDAQ:AIOT - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 223,270 shares of the company's stock, valued at approximately $1,487,000. Bank of America Corp DE owned approximately 0.17% of Powerfleet at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Signaturefd LLC acquired a new stake in shares of Powerfleet during the fourth quarter worth $25,000. Comerica Bank purchased a new position in Powerfleet in the 4th quarter worth $42,000. Spire Wealth Management purchased a new position in Powerfleet in the 4th quarter worth $55,000. Legal & General Group Plc acquired a new stake in Powerfleet during the 4th quarter worth about $58,000. Finally, Summit Investment Advisors Inc. purchased a new stake in Powerfleet during the 4th quarter valued at about $59,000. 73.40% of the stock is currently owned by hedge funds and other institutional investors.
Powerfleet Price Performance
AIOT stock traded up $0.09 during mid-day trading on Friday, hitting $4.70. 1,081,555 shares of the company were exchanged, compared to its average volume of 1,564,194. Powerfleet, Inc. has a 12-month low of $3.70 and a 12-month high of $8.71. The business has a fifty day simple moving average of $5.03 and a 200-day simple moving average of $6.03. The company has a current ratio of 1.21, a quick ratio of 1.02 and a debt-to-equity ratio of 0.51.
Analyst Ratings Changes
A number of research analysts recently issued reports on the stock. Barrington Research restated an "outperform" rating and set a $15.00 target price on shares of Powerfleet in a research report on Friday, May 23rd. Lake Street Capital set a $8.00 target price on shares of Powerfleet and gave the company a "buy" rating in a research report on Tuesday, May 27th. Northland Securities raised their target price on shares of Powerfleet from $10.00 to $11.00 and gave the stock an "outperform" rating in a research note on Tuesday, February 11th. Finally, Raymond James 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. Five analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has an average rating of "Buy" and a consensus price target of $10.50.
Get Our Latest Stock Analysis on Powerfleet
Powerfleet Company Profile
(
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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