Deutsche Bank AG Acquires Shares of 79,359 Powerfleet, Inc. (NASDAQ:AIOT)

Deutsche Bank AG acquired 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 and Exchange Commission. The fund acquired 79,359 shares of the company's stock, valued at approximately $529,000. Deutsche Bank AG owned about 0.06% of Powerfleet at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in AIOT. Vanguard Group Inc. bought a new stake in Powerfleet in the 4th quarter valued at about $43,134,000. Ontario Teachers Pension Plan Board bought a new stake in shares of Powerfleet during the fourth quarter valued at about $28,543,000. 325 Capital LLC bought a new stake in shares of Powerfleet during the fourth quarter valued at about $24,737,000. Royce & Associates LP bought a new stake in shares of Powerfleet during the fourth quarter valued at about $24,487,000. Finally, Private Management Group Inc. bought a new stake in shares of Powerfleet during the fourth quarter valued at about $23,147,000. 73.40% of the stock is currently owned by institutional investors.

Powerfleet Price Performance

Shares of NASDAQ AIOT traded up $0.27 during midday trading on Tuesday, hitting $4.76. 1,752,696 shares of the company's stock were exchanged, compared to its average volume of 1,565,758. Powerfleet, Inc. has a 12-month low of $3.70 and a 12-month high of $8.71. The company has a quick ratio of 1.02, a current ratio of 1.21 and a debt-to-equity ratio of 0.51. The business's fifty day moving average price is $5.07 and its two-hundred day moving average price is $6.06.

Analysts Set New Price Targets

Several brokerages have recently weighed in on AIOT. Northland Securities upped their price target on Powerfleet from $10.00 to $11.00 and gave the company an "outperform" rating in a research report on Tuesday, February 11th. Barrington Research reiterated an "outperform" rating and set a $15.00 price target on shares of Powerfleet in a research report on Friday, May 23rd. Lake Street Capital set a $8.00 price objective on Powerfleet and gave the stock a "buy" rating in a report on Tuesday, May 27th. Finally, Raymond James cut their price objective on Powerfleet from $10.00 to $8.00 and set an "outperform" rating for the company in a report on Tuesday, April 29th. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Powerfleet presently has an average rating of "Buy" and an average price target of $10.50.

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.