Squarepoint Ops LLC bought a new position in shares of Powerfleet, Inc. (NASDAQ:AIOT - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 622,126 shares of the company's stock, valued at approximately $4,143,000. Squarepoint Ops LLC owned 0.47% of Powerfleet as of its most recent SEC filing.
Several other institutional investors have also recently bought and sold shares of the business. SG Americas Securities LLC bought a new position in shares of Powerfleet in the fourth quarter valued at approximately $228,000. Inspire Investing LLC bought a new position in Powerfleet in the 4th quarter valued at $398,000. Spire Wealth Management purchased a new stake in shares of Powerfleet during the 4th quarter valued at $55,000. Hodges Capital Management Inc. purchased a new stake in shares of Powerfleet during the 4th quarter valued at $10,982,000. Finally, Calamos Advisors LLC bought a new stake in shares of Powerfleet during the 4th quarter worth $2,191,000. Institutional investors and hedge funds own 73.40% of the company's stock.
Wall Street Analyst Weigh In
Several research firms recently commented on AIOT. Barrington Research reiterated an "outperform" rating and issued a $15.00 price objective on shares of Powerfleet in a research note 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. Northland Securities lifted their price objective on Powerfleet from $10.00 to $11.00 and gave the stock an "outperform" rating in a report on Tuesday, February 11th. Finally, Raymond James dropped their price objective on shares of Powerfleet from $10.00 to $8.00 and set an "outperform" rating on the stock in a report on Tuesday, April 29th. Five analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has an average rating of "Buy" and a consensus price target of $10.50.
Read Our Latest Stock Report on Powerfleet
Powerfleet Stock Down 1.5%
AIOT traded down $0.07 during trading on Friday, reaching $4.63. 7,655,114 shares of the company were exchanged, compared to its average volume of 1,564,120. Powerfleet, Inc. has a 12-month low of $3.70 and a 12-month high of $8.71. The company's 50-day moving average is $5.12 and its two-hundred day moving average is $6.08. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.02 and a current ratio of 1.21.
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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