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

Rock Creek Group LP acquired a new position in shares of Powerfleet, Inc. (NASDAQ:AIOT) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 66,408 shares of the company’s stock, valued at approximately $442,000. Rock Creek Group LP owned about 0.05% of Powerfleet as of its most recent filing with the Securities and Exchange Commission.

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

Analyst Ratings Changes

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

Powerfleet Stock Performance

Powerfleet stock opened at $5.59 on Friday. The business has a 50 day simple moving average of $6.54 and a 200 day simple moving average of $6.10. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.02 and a current ratio of 1.21. Powerfleet, Inc. has a one year low of $3.99 and a one year high of $8.71.

Powerfleet (NASDAQ:AIOT) last issued 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). Research analysts anticipate that Powerfleet, Inc. will post -0.32 EPS for the current fiscal year.

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.