Corient Private Wealth LLC Purchases New Holdings in Powerfleet, Inc. (NASDAQ:AIOT)

Corient Private Wealth LLC acquired a new stake in Powerfleet, Inc. (NASDAQ:AIOT) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 190,061 shares of the company’s stock, valued at approximately $1,266,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. AEGON ASSET MANAGEMENT UK Plc acquired a new stake in Powerfleet in the 4th quarter valued at $11,034,000. Kopion Asset Management LLC acquired a new position in Powerfleet during the 4th quarter worth about $7,361,000. Hodges Capital Management Inc. bought a new stake in Powerfleet during the 4th quarter worth about $10,982,000. Inspire Investing LLC acquired a new stake in shares of Powerfleet in the fourth quarter valued at approximately $398,000. Finally, Oppenheimer Asset Management Inc. acquired a new stake in shares of Powerfleet in the 4th quarter valued at $118,000. Institutional investors own 73.40% of the company’s stock.

Powerfleet Stock Performance

Powerfleet stock opened at $6.20 on Wednesday. The company’s 50 day simple moving average is $6.55 and its 200 day simple moving average is $6.08. 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, Inc. has a fifty-two week low of $3.99 and a fifty-two week high of $8.71.

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

Wall Street Analyst Weigh In

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

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.