EntryPoint Capital LLC acquired a new position in shares of Powerfleet, Inc. (NASDAQ:AIOT – Free Report) during the fourth quarter, Holdings Channel.com reports. The institutional investor acquired 34,143 shares of the company’s stock, valued at approximately $227,000.
Other large investors also recently added to or reduced their stakes in the company. Signaturefd LLC purchased a new stake in shares of Powerfleet in the 4th quarter valued at approximately $25,000. Financial Management Professionals Inc. purchased a new position in Powerfleet in the fourth quarter worth approximately $50,000. Spire Wealth Management purchased a new stake in Powerfleet in the fourth quarter valued at $55,000. Private Advisor Group LLC acquired a new position in shares of Powerfleet in the 4th quarter valued at $68,000. Finally, HighTower Advisors LLC purchased a new position in shares of Powerfleet during the 4th quarter worth $84,000. 73.40% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
A number of research analysts have commented on the stock. Lake Street Capital upped their target price on shares of Powerfleet from $7.00 to $11.00 and gave the company a “buy” rating in a research report on Tuesday, February 11th. Northland Securities upped their price objective on shares of Powerfleet from $10.00 to $11.00 and gave the stock an “outperform” rating in a report on Tuesday, February 11th. Finally, Barrington Research reiterated an “outperform” rating and issued a $15.00 target price on shares of Powerfleet in a report on Thursday, February 13th.
Powerfleet Trading Down 5.7 %
Shares of AIOT opened at $5.59 on Friday. The company’s 50-day simple moving average is $6.54 and its 200-day simple moving average is $6.10. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.21 and a quick ratio of 1.02. Powerfleet, Inc. has a 1 year low of $3.99 and a 1 year high of $8.71.
Powerfleet (NASDAQ:AIOT – Get Free Report) last released 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). On average, research analysts forecast that Powerfleet, Inc. will post -0.32 EPS 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.
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