The Manufacturers Life Insurance Company Takes $219,000 Position in Powerfleet, Inc. (NASDAQ:AIOT)

The Manufacturers Life Insurance Company acquired a new position in Powerfleet, Inc. (NASDAQ:AIOT) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 32,873 shares of the company’s stock, valued at approximately $219,000.

A number of other institutional investors have also recently made changes to their positions in AIOT. Signaturefd LLC acquired a new stake in Powerfleet during the 4th quarter worth about $25,000. Financial Management Professionals Inc. purchased a new position in shares of Powerfleet in the 4th quarter valued at about $50,000. Spire Wealth Management purchased a new stake in Powerfleet during the 4th quarter worth approximately $55,000. Legal & General Group Plc acquired a new position in shares of Powerfleet during the 4th quarter worth approximately $58,000. Finally, Summit Investment Advisors Inc. purchased a new stake in shares of Powerfleet in the fourth quarter valued at approximately $59,000. Institutional investors and hedge funds own 73.40% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently commented on AIOT. Raymond James lowered their price target on Powerfleet from $10.00 to $8.00 and set an “outperform” rating for the company in a research report on Tuesday, April 29th. Northland Securities raised their price target on Powerfleet from $10.00 to $11.00 and gave the stock an “outperform” rating in a report on Tuesday, February 11th. Lake Street Capital lifted their price objective on Powerfleet from $7.00 to $11.00 and gave the company a “buy” rating in a report on Tuesday, February 11th. Finally, Barrington Research reiterated an “outperform” rating and set a $15.00 price target on shares of Powerfleet in a research report on Thursday, February 13th. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat, Powerfleet currently has an average rating of “Buy” and an average price target of $11.25.

Powerfleet Price Performance

Shares of AIOT opened at $5.97 on Monday. The stock has a fifty day moving average of $5.28 and a two-hundred day moving average of $6.09. 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 fifty-two week low of $3.70 and a fifty-two week high of $8.71.

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.