Rock Creek Group LP Takes $442,000 Position in Powerfleet, Inc. (NASDAQ:AIOT)

Rock Creek Group LP purchased a new stake in Powerfleet, Inc. (NASDAQ:AIOT) in the fourth quarter, Holdings Channel.com reports. The firm purchased 66,408 shares of the company’s stock, valued at approximately $442,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Vanguard Group Inc. acquired a new stake in Powerfleet in the 4th quarter valued at about $43,134,000. Royce & Associates LP acquired a new stake in shares of Powerfleet in the fourth quarter valued at approximately $24,487,000. Private Management Group Inc. bought a new position in Powerfleet in the 4th quarter worth approximately $23,147,000. AEGON ASSET MANAGEMENT UK Plc acquired a new position in Powerfleet during the 4th quarter worth $11,034,000. Finally, Hodges Capital Management Inc. acquired a new position in Powerfleet during the 4th quarter worth $10,982,000. Institutional investors and hedge funds own 73.40% of the company’s stock.

Analysts Set New Price Targets

AIOT has been the subject of a number of recent research reports. Northland Securities boosted their target price on Powerfleet from $10.00 to $11.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 11th. Barrington Research reissued an “outperform” rating and set a $15.00 price objective on shares of Powerfleet in a report on Thursday, February 13th. Finally, Lake Street Capital raised their target price on shares of Powerfleet from $7.00 to $11.00 and gave the company a “buy” rating in a research note on Tuesday, February 11th.

Powerfleet Stock Performance

AIOT stock opened at $5.59 on Friday. Powerfleet, Inc. has a twelve month low of $3.99 and a twelve month high of $8.71. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.21 and a quick ratio of 1.02. The business’s fifty day moving average is $6.54 and its 200-day moving average is $6.10.

Powerfleet (NASDAQ:AIOT) last released its earnings results on Monday, February 10th. The company reported ($0.11) earnings per share for the quarter, missing the consensus estimate of $0.02 by ($0.13). Research analysts predict that Powerfleet, Inc. will post -0.32 earnings per share for the current fiscal 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.