Quantbot Technologies LP Acquires Shares of 52,097 Powerfleet, Inc. (NASDAQ:AIOT)

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

Several other hedge funds and other institutional investors also recently modified their holdings of AIOT. Kopion Asset Management LLC acquired a new stake in shares of Powerfleet during the fourth quarter worth $7,361,000. Yarbrough Capital LLC purchased a new position in Powerfleet during the 4th quarter worth $372,000. Financial Management Professionals Inc. acquired a new stake in Powerfleet in the fourth quarter valued at about $50,000. SG Americas Securities LLC purchased a new stake in Powerfleet in the 4th quarter valued at approximately $228,000. Finally, Inspire Investing LLC acquired a new position in Powerfleet during the 4th quarter worth approximately $398,000. 73.40% of the stock is currently owned by hedge funds and other institutional investors.

Powerfleet Stock Down 5.7 %

AIOT opened at $5.59 on Friday. The company has a current ratio of 1.21, a quick ratio of 1.02 and a debt-to-equity ratio of 0.51. Powerfleet, Inc. has a one year low of $3.99 and a one year high of $8.71. The business’s fifty day moving average is $6.54 and its two-hundred day moving average is $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 the consensus estimate of $0.02 by ($0.13). As a group, equities analysts forecast that Powerfleet, Inc. will post -0.32 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research firms recently weighed in on AIOT. Barrington Research restated an “outperform” rating and issued a $15.00 price target on shares of Powerfleet in a research note on Thursday, February 13th. Northland Securities increased their price target on shares of Powerfleet from $10.00 to $11.00 and gave the company an “outperform” rating in a report on Tuesday, February 11th. Finally, Lake Street Capital boosted their price objective on shares of Powerfleet from $7.00 to $11.00 and gave the stock a “buy” rating in a report on Tuesday, February 11th.

About Powerfleet

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.