MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Purchases New Holdings in Powerfleet, Inc. (NASDAQ:AIOT)

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in shares of Powerfleet, Inc. (NASDAQ:AIOT - Free Report) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 54,095 shares of the company's stock, valued at approximately $360,000.

A number of other institutional investors have also modified their holdings of AIOT. Signaturefd LLC purchased a new position in Powerfleet during the fourth quarter worth about $25,000. Comerica Bank acquired a new position in shares of Powerfleet during the 4th quarter valued at about $42,000. Spire Wealth Management purchased a new position in shares of Powerfleet during the 4th quarter worth about $55,000. Legal & General Group Plc acquired a new stake in shares of Powerfleet in the fourth quarter worth approximately $58,000. Finally, Summit Investment Advisors Inc. purchased a new stake in Powerfleet in the fourth quarter valued at approximately $59,000. Institutional investors and hedge funds own 73.40% of the company's stock.

Powerfleet Stock Down 2.9%

NASDAQ AIOT traded down $0.14 during trading hours on Wednesday, hitting $4.62. The company had a trading volume of 1,520,933 shares, compared to its average volume of 1,565,566. The firm's 50 day moving average is $5.07 and its 200 day moving average is $6.06. The company has a quick ratio of 1.02, a current ratio of 1.21 and a debt-to-equity ratio of 0.51. Powerfleet, Inc. has a fifty-two week low of $3.70 and a fifty-two week high of $8.71.

Analyst Upgrades and Downgrades

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

Powerfleet Company 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.