Yarbrough Capital LLC Has $629,000 Position in Powerfleet, Inc. (NASDAQ:AIOT)

Yarbrough Capital LLC boosted its holdings in shares of Powerfleet, Inc. (NASDAQ:AIOT - Free Report) by 105.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 114,646 shares of the company's stock after acquiring an additional 58,807 shares during the quarter. Yarbrough Capital LLC owned 0.09% of Powerfleet worth $629,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of AIOT. Private Capital Management LLC acquired a new position in Powerfleet during the 4th quarter worth about $45,504,000. Vanguard Group Inc. acquired a new position in Powerfleet during the 4th quarter worth about $43,134,000. AWM Investment Company Inc. acquired a new position in Powerfleet during the 4th quarter worth about $31,000,000. Ontario Teachers Pension Plan Board acquired a new position in Powerfleet during the 4th quarter worth about $28,543,000. Finally, 325 Capital LLC bought a new position in Powerfleet during the 4th quarter worth approximately $24,737,000. 73.40% of the stock is owned by institutional investors and hedge funds.

Powerfleet Stock Performance

Shares of NASDAQ AIOT traded down $0.13 during trading on Wednesday, hitting $4.75. 1,265,633 shares of the company traded hands, compared to its average volume of 1,567,933. The business's fifty day moving average is $5.00 and its 200 day moving average is $5.99. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.21 and a quick ratio of 1.02. Powerfleet, Inc. has a fifty-two week low of $3.70 and a fifty-two week high of $8.71.

Wall Street Analyst Weigh In

Several research analysts have issued reports on AIOT shares. Northland Securities raised their price target on shares of Powerfleet from $10.00 to $11.00 and gave the stock an "outperform" rating in a report on Tuesday, February 11th. Barrington Research restated an "outperform" rating and set 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 shares of Powerfleet and gave the stock a "buy" rating in a report on Tuesday, May 27th. Finally, Raymond James lowered their price objective on Powerfleet from $10.00 to $8.00 and set an "outperform" rating for the company in a research report on Tuesday, April 29th. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat, Powerfleet 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.