Equitable Trust Co. Acquires New Shares in Powerfleet, Inc. (NASDAQ:AIOT)

Equitable Trust Co. 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 243,072 shares of the company’s stock, valued at approximately $1,619,000. Equitable Trust Co. owned approximately 0.18% of Powerfleet as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Kopion Asset Management LLC bought a new position in Powerfleet during the 4th quarter worth about $7,361,000. Yarbrough Capital LLC acquired a new position in shares of Powerfleet during the 4th quarter worth about $372,000. Financial Management Professionals Inc. acquired a new position in shares of Powerfleet during the 4th quarter worth about $50,000. SG Americas Securities LLC acquired a new position in shares of Powerfleet during the 4th quarter worth about $228,000. Finally, Inspire Investing LLC acquired a new position in shares of Powerfleet during the 4th quarter worth about $398,000. Institutional investors own 73.40% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently commented on AIOT. Barrington Research restated an “outperform” rating and set a $15.00 price objective on shares of Powerfleet in a research note on Thursday, February 6th. William Blair restated an “outperform” rating on shares of Powerfleet in a research note on Thursday, November 21st. Finally, Northland Securities increased their price objective on shares of Powerfleet from $8.00 to $10.00 and gave the stock an “outperform” rating in a research note on Friday, November 22nd.

Powerfleet Stock Up 31.1 %

Shares of NASDAQ:AIOT opened at $7.80 on Tuesday. Powerfleet, Inc. has a 52-week low of $2.85 and a 52-week high of $8.26. The company has a 50-day simple moving average of $6.40 and a 200 day simple moving average of $5.62. The company has a current ratio of 1.71, a quick ratio of 1.51 and a debt-to-equity ratio of 0.25.

Powerfleet (NASDAQ:AIOT) last issued its 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). Research analysts forecast that Powerfleet, Inc. will post -0.14 earnings per share for the current fiscal year.

Insider Buying and Selling at Powerfleet

In other Powerfleet news, insider Catherine J. Lewis sold 82,010 shares of the stock in a transaction dated Thursday, December 5th. The shares were sold at an average price of $7.05, for a total value of $578,170.50. Following the transaction, the insider now directly owns 240,962 shares of the company’s stock, valued at $1,698,782.10. This represents a 25.39 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 7.79% of the company’s stock.

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.