HighTower Advisors LLC Buys New Shares in Powerfleet, Inc. (NASDAQ:AIOT)

HighTower Advisors LLC acquired a new stake in shares of Powerfleet, Inc. (NASDAQ:AIOT) during the fourth quarter, Holdings Channel reports. The fund acquired 12,583 shares of the company’s stock, valued at approximately $84,000.

Other large investors have also recently modified their holdings of the company. Financial Management Professionals Inc. purchased a new position in Powerfleet in the 4th quarter worth approximately $50,000. Spire Wealth Management purchased a new stake in Powerfleet during the 4th quarter valued at $55,000. Private Advisor Group LLC bought a new stake in Powerfleet in the 4th quarter worth $68,000. Victory Capital Management Inc. purchased a new position in shares of Powerfleet in the fourth quarter valued at about $103,000. Finally, New York State Common Retirement Fund bought a new position in shares of Powerfleet during the fourth quarter valued at about $113,000. Hedge funds and other institutional investors own 73.40% of the company’s stock.

Powerfleet Trading Down 11.0 %

AIOT opened at $4.27 on Friday. The business has a 50 day moving average of $6.42 and a 200-day moving average of $6.10. Powerfleet, Inc. has a 52 week low of $3.70 and a 52 week 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.

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

Wall Street Analyst Weigh In

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

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.