Maridea Wealth Management LLC Acquires New Position in Powerfleet, Inc. (NASDAQ:AIOT)

Maridea Wealth Management LLC bought a new position in shares of Powerfleet, Inc. (NASDAQ:AIOT) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 21,085 shares of the company’s stock, valued at approximately $140,000.

Other large investors also recently bought and sold shares of the company. Vanguard Group Inc. purchased a new stake in Powerfleet during the fourth quarter worth about $43,134,000. Royce & Associates LP purchased a new position in Powerfleet in the fourth quarter valued at $24,487,000. Private Management Group Inc. purchased a new stake in Powerfleet during the fourth quarter worth approximately $23,147,000. AEGON ASSET MANAGEMENT UK Plc acquired a new position in shares of Powerfleet in the 4th quarter valued at $11,034,000. Finally, Hodges Capital Management Inc. purchased a new position in shares of Powerfleet during the fourth quarter worth about $10,982,000. Institutional investors and hedge funds own 73.40% of the company’s stock.

Wall Street Analysts Forecast Growth

AIOT has been the subject of several recent research reports. Northland Securities increased their target price 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. Lake Street Capital raised their price objective on shares of 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 reissued an “outperform” rating and issued a $15.00 target price on shares of Powerfleet in a report on Thursday, February 13th.

Powerfleet Stock Performance

NASDAQ:AIOT opened at $5.59 on Friday. 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, Inc. has a twelve month low of $3.99 and a twelve month high of $8.71. The firm’s fifty day simple moving average is $6.54 and its 200 day simple moving average is $6.10.

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

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.