Fiera Capital Corp Acquires New Stake 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) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 128,000 shares of the company's stock, valued at approximately $703,000. Fiera Capital Corp owned about 0.10% of PowerFleet as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. Oppenheimer & Co. Inc. bought a new stake in PowerFleet during the 1st quarter worth approximately $172,000. The Manufacturers Life Insurance Company purchased a new stake in PowerFleet during the 4th quarter valued at approximately $219,000. Legal & General Group Plc purchased a new position in shares of PowerFleet in the fourth quarter valued at $58,000. Geode Capital Management LLC purchased a new position in shares of PowerFleet in the fourth quarter valued at $15,938,000. Finally, Vanguard Group Inc. purchased a new position in shares of PowerFleet in the fourth quarter valued at $43,134,000. 73.40% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on AIOT. Raymond James Financial decreased their target price on PowerFleet from $10.00 to $8.00 and set an "outperform" rating for the company in a research report on Tuesday, April 29th. Barrington Research reiterated an "outperform" rating and issued a $15.00 target price on shares of PowerFleet in a 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. Finally, Lake Street Capital set a $8.00 price objective on shares of PowerFleet and gave the company a "buy" rating in a research report on Tuesday, May 27th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $10.50.

PowerFleet Stock Performance

Shares of NASDAQ:AIOT traded down $0.26 during midday trading on Friday, reaching $3.80. 1,518,664 shares of the company's stock traded hands, compared to its average volume of 1,392,471. PowerFleet, Inc. has a 1 year low of $3.70 and a 1 year high of $8.71. The company has a current ratio of 1.12, a quick ratio of 1.00 and a debt-to-equity ratio of 0.52. The company has a fifty day simple moving average of $4.50 and a two-hundred day simple moving average of $5.42.

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.