LPL Financial LLC Invests $398,000 in Powerfleet, Inc. (NASDAQ:AIOT)

LPL Financial LLC bought a new position in Powerfleet, Inc. (NASDAQ:AIOT - Free Report) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 59,774 shares of the company's stock, valued at approximately $398,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Kopion Asset Management LLC bought a new stake in Powerfleet during the fourth quarter worth about $7,361,000. Yarbrough Capital LLC bought a new stake in Powerfleet in the 4th quarter worth approximately $372,000. Financial Management Professionals Inc. purchased a new stake in Powerfleet in the fourth quarter worth approximately $50,000. SG Americas Securities LLC bought a new position in Powerfleet during the fourth quarter valued at approximately $228,000. Finally, Inspire Investing LLC bought a new position in Powerfleet during the fourth quarter valued at approximately $398,000. 73.40% of the stock is currently owned by hedge funds and other institutional investors.

Powerfleet Price Performance

Shares of NASDAQ AIOT traded up $0.13 during trading hours on Thursday, hitting $5.17. The company's stock had a trading volume of 49,838 shares, compared to its average volume of 1,509,031. Powerfleet, Inc. has a 12 month low of $3.70 and a 12 month high of $8.71. The company has a quick ratio of 1.02, a current ratio of 1.21 and a debt-to-equity ratio of 0.51. The business has a 50-day simple moving average of $5.54 and a 200-day simple moving average of $6.07.

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 the consensus estimate of $0.02 by ($0.13). On average, analysts forecast that Powerfleet, Inc. will post -0.32 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on AIOT shares. Northland Securities lifted their target price on shares of Powerfleet from $10.00 to $11.00 and gave the stock an "outperform" rating in a research report on Tuesday, February 11th. Barrington Research restated an "outperform" rating and set a $15.00 target price on shares of Powerfleet in a report on Thursday, February 13th. Lake Street Capital lifted their price target on Powerfleet from $7.00 to $11.00 and gave the stock a "buy" rating in a research note on Tuesday, February 11th. Finally, 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. Five investment analysts have rated the stock with a buy rating, According to MarketBeat.com, Powerfleet currently has a consensus rating of "Buy" and an average target price of $11.25.

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.