Tidal Investments LLC Takes $627,000 Position in Powerfleet, Inc. (NASDAQ:AIOT)

Tidal Investments LLC bought a new position in shares of Powerfleet, Inc. (NASDAQ:AIOT - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 94,123 shares of the company's stock, valued at approximately $627,000. Tidal Investments LLC owned about 0.07% of Powerfleet at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in AIOT. Private Capital Management LLC purchased a new stake in Powerfleet in the 4th quarter valued at $45,504,000. Vanguard Group Inc. purchased a new stake in shares of Powerfleet in the fourth quarter valued at about $43,134,000. Ontario Teachers Pension Plan Board acquired a new stake in Powerfleet during the fourth quarter worth about $28,543,000. 325 Capital LLC acquired a new stake in Powerfleet during the fourth quarter worth about $24,737,000. Finally, Royce & Associates LP purchased a new position in Powerfleet during the fourth quarter worth about $24,487,000. Institutional investors and hedge funds own 73.40% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on AIOT shares. Barrington Research reaffirmed an "outperform" rating and set a $15.00 price target on shares of Powerfleet in a research report on Friday, May 23rd. Northland Securities upped their price target on Powerfleet from $10.00 to $11.00 and gave the company an "outperform" rating in a research note on Tuesday, February 11th. Lake Street Capital set a $8.00 price target on Powerfleet and gave the stock a "buy" rating in a report on Tuesday, May 27th. Finally, Raymond James reduced 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, Based on data from MarketBeat, Powerfleet currently has a consensus rating of "Buy" and an average target price of $10.50.

Powerfleet Trading Down 1.5%

Shares of AIOT stock traded down $0.07 on Friday, hitting $4.63. The stock had a trading volume of 7,655,114 shares, compared to its average volume of 1,564,120. The company's 50 day moving average price is $5.12 and its 200-day moving average price is $6.08. 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 1 year low of $3.70 and a 1 year high of $8.71.

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.