Harber Asset Management LLC Makes New Investment in Powerfleet, Inc. (NASDAQ:AIOT)

Harber Asset Management LLC purchased a new position in shares of Powerfleet, Inc. (NASDAQ:AIOT - Free Report) in the 4th quarter, according to the company in its most recent filing with the SEC. The fund purchased 122,683 shares of the company's stock, valued at approximately $817,000. Harber Asset Management LLC owned 0.09% of Powerfleet at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Signaturefd LLC acquired a new stake in shares of Powerfleet in the 4th quarter valued at approximately $25,000. Financial Management Professionals Inc. acquired a new position in shares of Powerfleet in the 4th quarter valued at $50,000. Spire Wealth Management bought a new stake in shares of Powerfleet in the 4th quarter valued at $55,000. Legal & General Group Plc acquired a new stake in Powerfleet during the 4th quarter worth $58,000. Finally, Summit Investment Advisors Inc. bought a new position in Powerfleet during the fourth quarter worth about $59,000. Institutional investors and hedge funds own 73.40% of the company's stock.

Analyst Upgrades and Downgrades

AIOT has been the subject of several recent analyst reports. Barrington Research restated an "outperform" rating and issued a $15.00 price target on shares of Powerfleet in a report on Thursday, February 13th. Northland Securities lifted their price target on shares of Powerfleet from $10.00 to $11.00 and gave the company an "outperform" rating in a research note on Tuesday, February 11th. Finally, Lake Street Capital increased their price objective on shares of Powerfleet from $7.00 to $11.00 and gave the stock a "buy" rating in a research report on Tuesday, February 11th.

Powerfleet Trading Up 0.4 %

NASDAQ:AIOT traded up $0.02 on Friday, hitting $4.77. 1,077,840 shares of the company's stock were exchanged, compared to its average volume of 1,538,254. The firm has a 50-day moving average price of $6.02 and a 200-day moving average price of $6.08. 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 52 week low of $3.70 and a 52 week high of $8.71.

Powerfleet (NASDAQ:AIOT - Get Free Report) last announced its quarterly earnings data on Monday, February 10th. The company reported ($0.11) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.02 by ($0.13). Equities research analysts anticipate that Powerfleet, Inc. will post -0.32 EPS for the current fiscal year.

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.