JPMorgan Chase & Co. Buys Shares of 104,156 Powerfleet, Inc. (NASDAQ:AIOT)

JPMorgan Chase & Co. purchased a new stake in Powerfleet, Inc. (NASDAQ:AIOT - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 104,156 shares of the company's stock, valued at approximately $694,000. JPMorgan Chase & Co. owned approximately 0.08% of Powerfleet as of its most recent filing with the SEC.

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

Powerfleet Stock Down 0.6 %

NASDAQ:AIOT opened at $5.11 on Wednesday. The firm has a fifty day simple moving average of $5.59 and a 200-day simple moving average 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 12 month low of $3.70 and a 12 month high of $8.71.

Powerfleet (NASDAQ:AIOT - Get Free Report) last posted its earnings results 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). As a group, research analysts expect that Powerfleet, Inc. will post -0.32 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms have commented on AIOT. Barrington Research reissued an "outperform" rating and set a $15.00 price target on shares of Powerfleet in a research report on Thursday, February 13th. Northland Securities raised their target price 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. Raymond James dropped their target price on Powerfleet from $10.00 to $8.00 and set an "outperform" rating on the stock in a research note on Tuesday. Finally, Lake Street Capital increased their price target on Powerfleet from $7.00 to $11.00 and gave the company a "buy" rating in a research note on Tuesday, February 11th. Five analysts have rated the stock with a buy rating, According to MarketBeat, Powerfleet presently has an average rating of "Buy" and an average price target of $11.25.

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.

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