Oppenheimer & Co. Inc. Takes Position in PowerFleet, Inc. (NASDAQ:AIOT)

Oppenheimer & Co. Inc. purchased a new stake in shares of PowerFleet, Inc. (NASDAQ:AIOT) during the first quarter, Holdings Channel reports. The fund purchased 31,250 shares of the company’s stock, valued at approximately $172,000.

A number of other hedge funds have also recently made changes to their positions in the company. Oppenheimer Asset Management Inc. boosted its stake in shares of PowerFleet by 14.7% during the first quarter. Oppenheimer Asset Management Inc. now owns 20,242 shares of the company’s stock valued at $111,000 after purchasing an additional 2,594 shares in the last quarter. Signaturefd LLC acquired a new stake in shares of PowerFleet during the fourth quarter valued at about $25,000. Comerica Bank acquired a new stake in shares of PowerFleet during the fourth quarter valued at about $42,000. NBC Securities Inc. acquired a new stake in shares of PowerFleet during the first quarter valued at about $36,000. Finally, California State Teachers Retirement System acquired a new stake in shares of PowerFleet during the fourth quarter valued at about $46,000. 73.40% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

PowerFleet Trading Up 0.7%

Shares of AIOT stock opened at $4.39 on Friday. The company has a market cap of $585.49 million, a P/E ratio of -10.21 and a beta of 1.32. The stock has a 50 day simple moving average of $4.95 and a two-hundred day simple moving average of $5.71. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.00 and a current ratio of 1.12. PowerFleet, Inc. has a fifty-two week low of $3.70 and a fifty-two week high of $8.71.

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.