Powerfleet, Inc. (NASDAQ:AIOT) Shares Purchased by Yarbrough Capital LLC

Yarbrough Capital LLC boosted its stake in Powerfleet, Inc. (NASDAQ:AIOT - Free Report) by 105.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 114,646 shares of the company's stock after acquiring an additional 58,807 shares during the period. Yarbrough Capital LLC owned 0.09% of Powerfleet worth $629,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Signaturefd LLC acquired a new stake in Powerfleet in the fourth quarter valued at $25,000. Comerica Bank acquired a new stake in Powerfleet in the fourth quarter valued at $42,000. NBC Securities Inc. acquired a new stake in Powerfleet in the first quarter valued at $36,000. California State Teachers Retirement System acquired a new stake in Powerfleet in the fourth quarter valued at $46,000. Finally, Spire Wealth Management acquired a new stake in Powerfleet in the fourth quarter valued at $55,000. 73.40% of the stock is owned by institutional investors and hedge funds.

Powerfleet Stock Performance

AIOT stock opened at $4.70 on Friday. The company has a current ratio of 1.21, a quick ratio of 1.02 and a debt-to-equity ratio of 0.51. Powerfleet, Inc. has a 1-year low of $3.70 and a 1-year high of $8.71. The firm has a fifty day moving average price of $5.02 and a two-hundred day moving average price of $6.02.

Analyst Ratings Changes

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

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