Blair William & Co. IL lifted its holdings in PowerFleet, Inc. (NASDAQ:AIOT - Free Report) by 97.0% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 1,002,649 shares of the company's stock after buying an additional 493,729 shares during the quarter. Blair William & Co. IL owned approximately 0.76% of PowerFleet worth $5,505,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also modified their holdings of the business. Essex Investment Management Co. LLC acquired a new stake in PowerFleet during the first quarter worth about $1,960,000. Fiera Capital Corp bought a new position in shares of PowerFleet during the first quarter valued at approximately $703,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in shares of PowerFleet during the 1st quarter worth approximately $120,000. Bastion Asset Management Inc. bought a new stake in shares of PowerFleet in the 1st quarter worth approximately $2,869,000. Finally, Private Management Group Inc. lifted its holdings in shares of PowerFleet by 8.7% in the 1st quarter. Private Management Group Inc. now owns 3,778,478 shares of the company's stock worth $20,744,000 after purchasing an additional 303,004 shares during the last quarter. 73.40% of the stock is owned by institutional investors and hedge funds.
PowerFleet Trading Up 3.1%
NASDAQ:AIOT opened at $4.01 on Thursday. The stock has a fifty day simple moving average of $4.45 and a 200 day simple moving average of $5.37. The firm has a market capitalization of $535.09 million, a price-to-earnings ratio of -9.33 and a beta of 1.35. PowerFleet, Inc. has a 1-year low of $3.70 and a 1-year high of $8.71. The company has a quick ratio of 1.00, a current ratio of 1.12 and a debt-to-equity ratio of 0.52.
Analyst Ratings Changes
Several equities research analysts have weighed in on AIOT shares. Raymond James Financial dropped their target price on PowerFleet from $10.00 to $8.00 and set an "outperform" rating on the stock in a research report on Tuesday, April 29th. Lake Street Capital set a $8.00 price objective 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 objective on shares of PowerFleet in a research note on Friday, June 13th. Finally, Wall Street Zen upgraded shares of PowerFleet from a "sell" rating to a "hold" rating in a report on Saturday, June 21st. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company's stock. According to MarketBeat, PowerFleet presently has an average rating of "Moderate Buy" and an average target price of $10.50.
Check Out Our Latest Research Report on AIOT
About PowerFleet
(
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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