California State Teachers Retirement System Makes New Investment in Powerfleet, Inc. (NASDAQ:AIOT)

California State Teachers Retirement System purchased a new position in shares of Powerfleet, Inc. (NASDAQ:AIOT) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 6,921 shares of the company’s stock, valued at approximately $46,000.

Several other large investors have also recently made changes to their positions in the business. Josh Arnold Investment Consultant LLC purchased a new position in shares of Powerfleet during the fourth quarter worth approximately $117,000. AWM Investment Company Inc. purchased a new position in shares of Powerfleet in the fourth quarter worth $31,000,000. Ashford Capital Management Inc. purchased a new position in shares of Powerfleet in the fourth quarter worth $856,000. Squarepoint Ops LLC purchased a new position in shares of Powerfleet in the fourth quarter worth $4,143,000. Finally, Tidal Investments LLC purchased a new position in shares of Powerfleet in the fourth quarter worth $627,000. 73.40% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages recently commented on AIOT. Lake Street Capital set a $8.00 target price on shares of Powerfleet and gave the stock a “buy” rating in a research note on Tuesday, May 27th. Raymond James cut their price target on shares of Powerfleet from $10.00 to $8.00 and set an “outperform” rating on the stock in a report on Tuesday, April 29th. Finally, Barrington Research reiterated an “outperform” rating and issued a $15.00 price target on shares of Powerfleet in a report on Friday, May 23rd. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Powerfleet currently has an average rating of “Buy” and an average price target of $10.50.

Powerfleet Stock Performance

Shares of AIOT stock opened at $4.74 on Friday. Powerfleet, Inc. has a 12 month low of $3.70 and a 12 month 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’s fifty day moving average price is $5.02 and its 200-day moving average price is $5.96.

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.