Price T Rowe Associates Inc. MD acquired a new position in shares of Powerfleet, Inc. (NASDAQ:AIOT – Free Report) in the fourth quarter, according to its most recent disclosure with the SEC. The firm acquired 38,109 shares of the company’s stock, valued at approximately $254,000.
Other hedge funds also recently added to or reduced their stakes in the company. Signaturefd LLC acquired a new stake in Powerfleet during the 4th quarter worth approximately $25,000. Financial Management Professionals Inc. acquired a new stake in shares of Powerfleet in the 4th quarter valued at approximately $50,000. Spire Wealth Management acquired a new stake in shares of Powerfleet in the 4th quarter valued at approximately $55,000. Legal & General Group Plc acquired a new stake in shares of Powerfleet in the 4th quarter valued at approximately $58,000. Finally, Summit Investment Advisors Inc. acquired a new stake in shares of Powerfleet in the 4th quarter valued at approximately $59,000. 73.40% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
Several analysts have recently commented on AIOT shares. Lake Street Capital raised their price target on Powerfleet from $7.00 to $11.00 and gave the company a “buy” rating in a report on Tuesday, February 11th. Raymond James reduced their price objective on Powerfleet from $10.00 to $8.00 and set an “outperform” rating for the company in a report on Tuesday, April 29th. Barrington Research reaffirmed an “outperform” rating and set a $15.00 price objective on shares of Powerfleet in a report on Thursday, February 13th. Finally, Northland Securities raised their price target on Powerfleet from $10.00 to $11.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 11th. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Powerfleet currently has a consensus rating of “Buy” and an average target price of $11.25.
Powerfleet Stock Performance
Powerfleet stock opened at $5.97 on Friday. 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 stock has a fifty day moving average of $5.28 and a two-hundred day moving average of $6.08. Powerfleet, Inc. has a fifty-two week low of $3.70 and a fifty-two week high of $8.71.
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.
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