Fiera Capital Corp Buys New Shares in PowerFleet, Inc. (NASDAQ:AIOT)

Key Points

• Fiera Capital Corp has acquired a new stake in PowerFleet, purchasing 128,000 shares valued at approximately $703,000 during the first quarter.
• PowerFleet currently shows a consensus rating of "Moderate Buy" among analysts, with a consensus price target of $10.50.
• 73.40% of PowerFleet's stock is owned by institutional investors and hedge funds, reflecting strong investor interest in the company.

Fiera Capital Corp acquired a new stake in shares of PowerFleet, Inc. (NASDAQ:AIOT - Free Report) in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 128,000 shares of the company's stock, valued at approximately $703,000. Fiera Capital Corp owned 0.10% of PowerFleet as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of AIOT. Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in PowerFleet during the 1st quarter valued at about $120,000. Bastion Asset Management Inc. purchased a new stake in PowerFleet during the 1st quarter valued at about $2,869,000. Private Management Group Inc. grew its stake in PowerFleet by 8.7% during the 1st quarter. Private Management Group Inc. now owns 3,778,478 shares of the company's stock valued at $20,744,000 after purchasing an additional 303,004 shares during the last quarter. Royce & Associates LP boosted its stake in shares of PowerFleet by 1.3% in the first quarter. Royce & Associates LP now owns 3,724,995 shares of the company's stock worth $20,450,000 after buying an additional 48,240 shares during the last quarter. Finally, 1492 Capital Management LLC acquired a new position in shares of PowerFleet during the first quarter valued at approximately $2,180,000. Hedge funds and other institutional investors own 73.40% of the company's stock.

Analyst Ratings Changes

Several research firms recently commented on AIOT. Lake Street Capital set a $8.00 price target on PowerFleet and gave the company a "buy" rating in a report on Tuesday, May 27th. Barrington Research reaffirmed an "outperform" rating and issued a $15.00 price target on shares of PowerFleet in a report on Friday, June 13th. Raymond James Financial cut 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. Finally, Wall Street Zen raised PowerFleet from a "sell" rating to a "hold" rating in a report on Saturday, June 21st. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $10.50.

PowerFleet Trading Up 0.9%

PowerFleet stock traded up $0.04 during mid-day trading on Monday, hitting $3.84. The company's stock had a trading volume of 663,483 shares, compared to its average volume of 1,955,237. PowerFleet, Inc. has a 1 year low of $3.70 and a 1 year high of $8.71. The stock's fifty day moving average is $4.50 and its two-hundred day moving average is $5.40. The firm has a market capitalization of $511.74 million, a PE ratio of -8.92 and a beta of 1.35. The company has a current ratio of 1.12, a quick ratio of 1.00 and a debt-to-equity ratio of 0.52.

About PowerFleet

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.