Invesco Ltd. Invests $4.16 Million in Powerfleet, Inc. (NASDAQ:AIOT)

Invesco Ltd. bought a new position in Powerfleet, Inc. (NASDAQ:AIOT - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 624,605 shares of the company's stock, valued at approximately $4,160,000. Invesco Ltd. owned approximately 0.47% of Powerfleet at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Signaturefd LLC purchased a new position in Powerfleet in the 4th quarter worth approximately $25,000. Financial Management Professionals Inc. bought a new position in shares of Powerfleet in the 4th quarter worth approximately $50,000. Spire Wealth Management bought a new stake in Powerfleet during the 4th quarter valued at approximately $55,000. Private Advisor Group LLC bought a new stake in Powerfleet in the fourth quarter worth $68,000. Finally, HighTower Advisors LLC purchased a new stake in shares of Powerfleet in the fourth quarter valued at $84,000. Institutional investors own 73.40% of the company's stock.

Analyst Upgrades and Downgrades

AIOT has been the topic of several research reports. Lake Street Capital lifted their price objective on shares of Powerfleet from $7.00 to $11.00 and gave the company a "buy" rating in a report on Tuesday, February 11th. Raymond James lowered their price objective on Powerfleet from $10.00 to $8.00 and set an "outperform" rating for the company in a research report on Tuesday. 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, Barrington Research reiterated an "outperform" rating and issued a $15.00 price target on shares of Powerfleet in a report on Thursday, February 13th. Five research analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has an average rating of "Buy" and an average target price of $11.25.

Powerfleet Trading Up 2.3 %

Shares of Powerfleet stock traded up $0.12 during trading on Thursday, reaching $5.16. The company had a trading volume of 80,078 shares, compared to its average volume of 1,509,206. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.02 and a current ratio of 1.21. Powerfleet, Inc. has a fifty-two week low of $3.70 and a fifty-two week high of $8.71. The firm's fifty day moving average is $5.54 and its 200-day moving average is $6.07.

Powerfleet (NASDAQ:AIOT - Get Free Report) last announced its quarterly 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). Sell-side analysts forecast that Powerfleet, Inc. will post -0.32 EPS for the current year.

About Powerfleet

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.