388,721 Shares in Powerfleet, Inc. (NASDAQ:AIOT) Acquired by Manatuck Hill Partners LLC

Manatuck Hill Partners LLC acquired a new stake in Powerfleet, Inc. (NASDAQ:AIOT - Free Report) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 388,721 shares of the company's stock, valued at approximately $2,589,000. Powerfleet comprises about 1.1% of Manatuck Hill Partners LLC's investment portfolio, making the stock its 27th biggest position. Manatuck Hill Partners LLC owned approximately 0.29% of Powerfleet as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Comerica Bank bought a new stake in Powerfleet in the fourth quarter valued at $42,000. Northern Trust Corp bought a new stake in Powerfleet in the 4th quarter valued at about $5,776,000. The Manufacturers Life Insurance Company acquired a new position in Powerfleet during the 4th quarter worth approximately $219,000. Tudor Investment Corp ET AL bought a new stake in shares of Powerfleet during the fourth quarter valued at approximately $484,000. Finally, Aquatic Capital Management LLC bought a new stake in shares of Powerfleet during the fourth quarter valued at approximately $134,000. Institutional investors own 73.40% of the company's stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. 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 report on Tuesday, February 11th. Barrington Research reaffirmed an "outperform" rating and issued a $15.00 price target on shares of Powerfleet in a research report on Thursday, February 13th. Lake Street Capital boosted their price objective on Powerfleet from $7.00 to $11.00 and gave the stock a "buy" rating in a report on Tuesday, February 11th. Finally, Raymond James cut their target price on Powerfleet from $10.00 to $8.00 and set an "outperform" rating on the stock in a research report on Tuesday, April 29th. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has an average rating of "Buy" and a consensus target price of $11.25.

Powerfleet Trading Up 2.9 %

AIOT stock traded up $0.15 during mid-day trading on Wednesday, hitting $5.17. The company had a trading volume of 405,168 shares, compared to its average volume of 1,503,202. The stock's fifty day moving average price is $5.37 and its two-hundred day moving average price is $6.06. 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 12 month low of $3.70 and a 12 month high of $8.71.

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