235,350 Shares in Powerfleet, Inc. (NASDAQ:AIOT) Bought by Perritt Capital Management Inc

Perritt Capital Management Inc bought a new stake in shares of Powerfleet, Inc. (NASDAQ:AIOT) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 235,350 shares of the company’s stock, valued at approximately $1,567,000. Powerfleet makes up approximately 0.8% of Perritt Capital Management Inc’s holdings, making the stock its 22nd largest holding. Perritt Capital Management Inc owned approximately 0.18% of Powerfleet as of its most recent filing with the Securities and Exchange Commission.

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

Powerfleet Price Performance

NASDAQ AIOT opened at $5.49 on Wednesday. Powerfleet, Inc. has a 1 year low of $3.99 and a 1 year 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 company has a fifty day moving average of $6.51 and a 200 day moving average of $6.12.

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 the consensus estimate of $0.02 by ($0.13). On average, research analysts anticipate that Powerfleet, Inc. will post -0.32 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on AIOT shares. Northland Securities raised their target price on Powerfleet from $10.00 to $11.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 11th. Barrington Research restated an “outperform” rating and issued a $15.00 price objective on shares of Powerfleet in a research note on Thursday, February 13th. Finally, 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 report on Tuesday, February 11th.

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.