Rice Hall James & Associates LLC Acquires New Stake in Powerfleet, Inc. (NASDAQ:AIOT)

Rice Hall James & Associates LLC acquired a new stake in Powerfleet, Inc. (NASDAQ:AIOT) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 406,310 shares of the company’s stock, valued at approximately $2,706,000. Rice Hall James & Associates LLC owned 0.31% of Powerfleet as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Financial Management Professionals Inc. acquired a new stake in Powerfleet in the fourth quarter valued at $50,000. Spire Wealth Management acquired a new stake in Powerfleet in the fourth quarter valued at $55,000. Bfsg LLC acquired a new stake in Powerfleet in the fourth quarter valued at $178,000. SG Americas Securities LLC acquired a new stake in Powerfleet in the fourth quarter valued at $228,000. Finally, Yarbrough Capital LLC acquired a new stake in Powerfleet in the fourth quarter valued at $372,000. 73.40% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Powerfleet

In other news, insider Catherine J. Lewis sold 82,010 shares of the stock in a transaction dated Thursday, December 5th. The shares were sold at an average price of $7.05, for a total transaction of $578,170.50. Following the transaction, the insider now owns 240,962 shares of the company’s stock, valued at $1,698,782.10. This represents a 25.39 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 7.79% of the company’s stock.

Analyst Upgrades and Downgrades

AIOT has been the subject of a number of recent research reports. Barrington Research restated an “outperform” rating and issued a $15.00 price objective on shares of Powerfleet in a report on Thursday, February 13th. William Blair reiterated an “outperform” rating on shares of Powerfleet in a report on Thursday, November 21st. Northland Securities increased their price target on Powerfleet from $10.00 to $11.00 and gave the stock an “outperform” rating in a report on Tuesday, February 11th. Finally, Lake Street Capital increased their price target on Powerfleet from $7.00 to $11.00 and gave the stock a “buy” rating in a report on Tuesday, February 11th.

Powerfleet Stock Up 1.2 %

Shares of Powerfleet stock opened at $8.20 on Wednesday. The company has a current ratio of 1.71, a quick ratio of 1.51 and a debt-to-equity ratio of 0.25. The business has a 50-day moving average price of $6.54 and a two-hundred day moving average price of $5.76. Powerfleet, Inc. has a 1-year low of $2.85 and a 1-year high of $8.71.

Powerfleet (NASDAQ:AIOT) last released its quarterly earnings data 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, sell-side analysts expect that Powerfleet, Inc. will post -0.14 earnings per share for the current year.

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.