1,011,046 Shares in Powerfleet, Inc. (NASDAQ:AIOT) Bought by Russell Investments Group Ltd.

Russell Investments Group Ltd. acquired a new stake in shares of Powerfleet, Inc. (NASDAQ:AIOT) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 1,011,046 shares of the company’s stock, valued at approximately $6,734,000. Russell Investments Group Ltd. owned approximately 0.76% of Powerfleet as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Vanguard Group Inc. purchased a new position in Powerfleet in the 4th quarter valued at about $43,134,000. Royce & Associates LP purchased a new position in shares of Powerfleet in the fourth quarter valued at approximately $24,487,000. Private Management Group Inc. acquired a new stake in shares of Powerfleet in the fourth quarter worth approximately $23,147,000. Geode Capital Management LLC purchased a new stake in shares of Powerfleet during the fourth quarter worth approximately $15,938,000. Finally, Bandera Partners LLC acquired a new position in Powerfleet in the 4th quarter valued at $12,416,000. Institutional investors and hedge funds own 73.40% of the company’s stock.

Powerfleet Trading Up 3.9 %

Shares of AIOT stock opened at $4.84 on Monday. Powerfleet, Inc. has a twelve month low of $3.70 and a twelve month high of $8.71. The company’s 50-day moving average price is $6.23 and its 200-day moving average price is $6.10. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.21 and a quick ratio of 1.02.

Powerfleet (NASDAQ:AIOT) last posted its quarterly earnings results on Monday, February 10th. The company reported ($0.11) earnings per share for the quarter, missing the consensus estimate of $0.02 by ($0.13). As a group, equities analysts expect that Powerfleet, Inc. will post -0.32 earnings per share for the current year.

Analysts Set New Price Targets

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

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.