Quantbot Technologies LP Invests $347,000 in Powerfleet, Inc. (NASDAQ:AIOT)

Quantbot Technologies LP acquired a new stake in shares of Powerfleet, Inc. (NASDAQ:AIOT) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 52,097 shares of the company’s stock, valued at approximately $347,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Signaturefd LLC acquired a new stake in shares of Powerfleet during the 4th quarter worth about $25,000. Financial Management Professionals Inc. purchased a new stake in Powerfleet in the 4th quarter worth approximately $50,000. Spire Wealth Management acquired a new position in Powerfleet in the 4th quarter valued at $55,000. Private Advisor Group LLC purchased a new position in shares of Powerfleet during the 4th quarter worth $68,000. Finally, HighTower Advisors LLC acquired a new stake in shares of Powerfleet during the fourth quarter worth $84,000. Hedge funds and other institutional investors own 73.40% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the company. Lake Street Capital upped their target price on Powerfleet from $7.00 to $11.00 and gave the company a “buy” rating in a research note on Tuesday, February 11th. Northland Securities upped their price objective on shares of Powerfleet from $10.00 to $11.00 and gave the company an “outperform” rating in a research note on Tuesday, February 11th. Finally, Barrington Research reiterated an “outperform” rating and set a $15.00 price objective on shares of Powerfleet in a report on Thursday, February 13th.

Powerfleet Stock Down 5.7 %

AIOT stock opened at $5.59 on Friday. Powerfleet, Inc. has a 52 week low of $3.99 and a 52 week high of $8.71. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.02 and a current ratio of 1.21. The business has a fifty day simple moving average of $6.54 and a 200-day simple moving average of $6.09.

Powerfleet (NASDAQ:AIOT) last released its quarterly earnings data on Monday, February 10th. The company reported ($0.11) EPS for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.13). As a group, analysts predict that Powerfleet, Inc. will post -0.32 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.