190,061 Shares in Powerfleet, Inc. (NASDAQ:AIOT) Bought by Corient Private Wealth LLC

Corient Private Wealth LLC bought a new stake in Powerfleet, Inc. (NASDAQ:AIOT) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 190,061 shares of the company’s stock, valued at approximately $1,266,000. Corient Private Wealth LLC owned approximately 0.14% of Powerfleet at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of AIOT. Financial Management Professionals Inc. bought a new stake in shares of Powerfleet in the 4th quarter valued at approximately $50,000. Spire Wealth Management acquired a new stake in Powerfleet in the fourth quarter valued at approximately $55,000. Private Advisor Group LLC bought a new stake in Powerfleet in the fourth quarter worth approximately $68,000. HighTower Advisors LLC acquired a new position in shares of Powerfleet during the 4th quarter worth $84,000. Finally, Victory Capital Management Inc. bought a new position in shares of Powerfleet during the 4th quarter valued at $103,000. 73.40% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages recently issued reports on AIOT. Barrington Research reiterated an “outperform” rating and issued a $15.00 price objective on shares of Powerfleet in a report on Thursday, February 13th. Lake Street Capital upped their price target on Powerfleet from $7.00 to $11.00 and gave the stock a “buy” rating in a research note on Tuesday, February 11th. Finally, Northland Securities increased their price objective on Powerfleet from $10.00 to $11.00 and gave the company an “outperform” rating in a report on Tuesday, February 11th.

Powerfleet Stock Performance

Shares of AIOT opened at $6.20 on Wednesday. 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 one year low of $3.99 and a one year high of $8.71. The company’s fifty day moving average price is $6.55 and its 200 day moving average price is $6.08.

Powerfleet (NASDAQ:AIOT) last posted its quarterly earnings data on Monday, February 10th. The company reported ($0.11) EPS for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.13). Equities research analysts anticipate that Powerfleet, Inc. will post -0.32 earnings per share for the current year.

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.