Hood River Capital Management LLC Takes $3.43 Million Position in Powerfleet, Inc. (NASDAQ:AIOT)

Hood River Capital Management LLC bought a new position in shares of Powerfleet, Inc. (NASDAQ:AIOT - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 514,960 shares of the company's stock, valued at approximately $3,430,000. Hood River Capital Management LLC owned 0.39% of Powerfleet as of its most recent SEC filing.

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

Wall Street Analysts Forecast Growth

AIOT has been the topic of a number of research reports. Lake Street Capital boosted their price target on Powerfleet from $7.00 to $11.00 and gave the company a "buy" rating in a report on Tuesday, February 11th. Barrington Research restated an "outperform" rating and issued a $15.00 price objective on shares of Powerfleet in a research note on Thursday, February 13th. Northland Securities upped their price objective on Powerfleet from $10.00 to $11.00 and gave the company an "outperform" rating in a research note on Tuesday, February 11th. Finally, Raymond James dropped their price objective on Powerfleet from $10.00 to $8.00 and set an "outperform" rating on the stock in a research note on Tuesday. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has an average rating of "Buy" and a consensus price target of $11.25.

Powerfleet Trading Down 0.1 %

AIOT traded down $0.01 during trading on Tuesday, hitting $5.14. The company's stock had a trading volume of 139,272 shares, compared to its average volume of 1,517,231. 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 twelve month low of $3.70 and a twelve month high of $8.71. The stock's fifty day moving average price is $5.64 and its 200-day moving average price is $6.08.

Powerfleet (NASDAQ:AIOT - Get Free Report) last issued its earnings results on Monday, February 10th. The company reported ($0.11) earnings per share for the quarter, missing analysts' consensus estimates of $0.02 by ($0.13). As a group, sell-side analysts predict that Powerfleet, Inc. will post -0.32 earnings per share for the current fiscal year.

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.