Barclays PLC Buys New Holdings in Powerfleet, Inc. (NASDAQ:AIOT)

Barclays PLC purchased a new position in shares of Powerfleet, Inc. (NASDAQ:AIOT) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 777,544 shares of the company’s stock, valued at approximately $5,179,000. Barclays PLC owned about 0.59% of Powerfleet at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in AIOT. Summit Investment Advisors Inc. purchased a new stake in Powerfleet in the fourth quarter valued at $59,000. Kennedy Capital Management LLC acquired a new stake in shares of Powerfleet in the 4th quarter valued at about $1,273,000. CenterBook Partners LP purchased a new position in Powerfleet during the 4th quarter worth approximately $2,445,000. Raymond James Financial Inc. acquired a new position in Powerfleet during the fourth quarter worth approximately $4,731,000. Finally, Renaissance Technologies LLC purchased a new stake in Powerfleet in the fourth quarter valued at approximately $9,042,000. 73.40% of the stock is owned by institutional investors and hedge funds.

Powerfleet Stock Performance

Powerfleet stock opened at $5.12 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. The business has a 50 day simple moving average of $5.70 and a 200-day simple moving average of $6.08. Powerfleet, Inc. has a 12 month low of $3.70 and a 12 month high of $8.71.

Powerfleet (NASDAQ:AIOT) last announced its quarterly earnings data 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). Equities research analysts anticipate that Powerfleet, Inc. will post -0.32 EPS for the current year.

Analysts Set New Price Targets

AIOT has been the topic of a number of research reports. Lake Street Capital raised their target price on shares of Powerfleet from $7.00 to $11.00 and gave the stock a “buy” rating in a research report on Tuesday, February 11th. Northland Securities lifted their price objective on shares of Powerfleet from $10.00 to $11.00 and gave the company an “outperform” rating in a research note on Tuesday, February 11th. Finally, Barrington Research reaffirmed an “outperform” rating and issued a $15.00 target price on shares of Powerfleet in a report on Thursday, February 13th.

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.