Teacher Retirement System of Texas Invests $95,000 in PowerFleet, Inc. (NASDAQ:AIOT)

Teacher Retirement System of Texas purchased a new stake in PowerFleet, Inc. (NASDAQ:AIOT) during the first quarter, according to the company in its most recent filing with the SEC. The firm purchased 17,393 shares of the company’s stock, valued at approximately $95,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Private Capital Management LLC acquired a new stake in PowerFleet in the fourth quarter valued at approximately $45,504,000. Vanguard Group Inc. acquired a new position in shares of PowerFleet in the fourth quarter worth about $43,134,000. AWM Investment Company Inc. purchased a new stake in PowerFleet during the 4th quarter worth approximately $31,000,000. Ontario Teachers Pension Plan Board acquired a new position in shares of PowerFleet in the 4th quarter valued at approximately $28,543,000. Finally, 325 Capital LLC acquired a new stake in shares of PowerFleet during the fourth quarter worth approximately $24,737,000. 73.40% of the stock is currently owned by institutional investors and hedge funds.

PowerFleet Price Performance

Shares of PowerFleet stock opened at $4.48 on Tuesday. The stock has a market capitalization of $597.50 million, a price-to-earnings ratio of -10.42 and a beta of 1.32. The company has a current ratio of 1.12, a quick ratio of 1.00 and a debt-to-equity ratio of 0.52. PowerFleet, Inc. has a 1-year low of $3.70 and a 1-year high of $8.71. The firm has a fifty day simple moving average of $4.77 and a 200-day simple moving average of $5.52.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on AIOT. Raymond James Financial dropped their price objective on shares of PowerFleet from $10.00 to $8.00 and set an “outperform” rating on the stock in a research note on Tuesday, April 29th. Wall Street Zen upgraded PowerFleet from a “sell” rating to a “hold” rating in a research note on Saturday, June 21st. Lake Street Capital set a $8.00 price objective on shares of PowerFleet and gave the stock a “buy” rating in a report on Tuesday, May 27th. Finally, Barrington Research reissued an “outperform” rating and set a $15.00 target price on shares of PowerFleet in a research note on Friday, June 13th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, PowerFleet presently has an average rating of “Moderate Buy” and an average price target of $10.50.

PowerFleet Company 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.