Diametric Capital LP Takes $646,000 Position in Powerfleet, Inc. (NASDAQ:AIOT)

Diametric Capital LP purchased a new position in shares of Powerfleet, Inc. (NASDAQ:AIOT) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 96,982 shares of the company’s stock, valued at approximately $646,000. Diametric Capital LP owned 0.07% of Powerfleet as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also bought and sold shares of the business. AEGON ASSET MANAGEMENT UK Plc acquired a new position in shares of Powerfleet during the 4th quarter worth approximately $11,034,000. Kopion Asset Management LLC bought a new stake in shares of Powerfleet in the fourth quarter valued at approximately $7,361,000. Hodges Capital Management Inc. acquired a new stake in Powerfleet during the fourth quarter worth approximately $10,982,000. Inspire Investing LLC bought a new position in Powerfleet during the 4th quarter worth $398,000. Finally, Oppenheimer Asset Management Inc. acquired a new position in Powerfleet in the 4th quarter valued at $118,000. 73.40% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

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

Powerfleet Trading Down 1.8 %

Powerfleet stock opened at $5.49 on Tuesday. 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 52 week low of $3.99 and a 52 week high of $8.71. The stock has a fifty day moving average of $6.52 and a 200-day moving average of $6.12.

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

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.