Vanguard Group Inc. Takes $43.13 Million Position in Powerfleet, Inc. (NASDAQ:AIOT)

Vanguard Group Inc. purchased a new stake in Powerfleet, Inc. (NASDAQ:AIOT - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 6,476,590 shares of the company's stock, valued at approximately $43,134,000. Vanguard Group Inc. owned approximately 4.90% of Powerfleet at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Signaturefd LLC acquired a new stake in shares of Powerfleet during the fourth quarter worth approximately $25,000. Financial Management Professionals Inc. acquired a new position in Powerfleet in the fourth quarter worth $50,000. Spire Wealth Management bought a new stake in shares of Powerfleet during the fourth quarter worth $55,000. Private Advisor Group LLC bought a new position in shares of Powerfleet in the fourth quarter valued at about $68,000. Finally, HighTower Advisors LLC acquired a new position in Powerfleet during the 4th quarter worth about $84,000. 73.40% of the stock is currently owned by institutional investors and hedge funds.

Powerfleet Price Performance

Shares of NASDAQ:AIOT traded down $0.09 during mid-day trading on Thursday, reaching $4.67. The stock had a trading volume of 350,831 shares, compared to its average volume of 2,105,246. The firm has a 50 day simple moving average of $6.16 and a two-hundred day simple moving average of $6.08. 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 twelve month low of $3.70 and a twelve month high of $8.71.

Powerfleet (NASDAQ:AIOT - Get Free Report) last issued its quarterly earnings data on Monday, February 10th. The company reported ($0.11) EPS for the quarter, missing the consensus estimate of $0.02 by ($0.13). Research analysts expect that Powerfleet, Inc. will post -0.32 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. Barrington Research reaffirmed an "outperform" rating and issued a $15.00 target price on shares of Powerfleet in a research note on Thursday, February 13th. Northland Securities upped their price target on Powerfleet from $10.00 to $11.00 and gave the company an "outperform" rating in a research note on Tuesday, February 11th. Finally, Lake Street Capital lifted their price target on shares of Powerfleet from $7.00 to $11.00 and gave the stock a "buy" rating in a research report on Tuesday, February 11th.

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.