California State Teachers Retirement System Takes $46,000 Position in Powerfleet, Inc. (NASDAQ:AIOT)

California State Teachers Retirement System bought a new stake in shares of Powerfleet, Inc. (NASDAQ:AIOT) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 6,921 shares of the company’s stock, valued at approximately $46,000.

A number of other hedge funds have also recently modified their holdings of the business. Signaturefd LLC bought a new position in Powerfleet in the 4th quarter worth about $25,000. Comerica Bank bought a new position in Powerfleet in the 4th quarter worth about $42,000. Legal & General Group Plc bought a new position in Powerfleet in the 4th quarter worth about $58,000. Summit Investment Advisors Inc. bought a new position in Powerfleet in the 4th quarter worth about $59,000. Finally, Private Advisor Group LLC bought a new position in Powerfleet in the 4th quarter worth about $68,000. Institutional investors own 73.40% of the company’s stock.

Powerfleet Stock Performance

Shares of NASDAQ:AIOT opened at $4.74 on Friday. Powerfleet, Inc. has a fifty-two week low of $3.70 and a fifty-two week high of $8.71. The business has a 50-day simple moving average of $5.02 and a two-hundred day simple moving average of $5.96. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.21 and a quick ratio of 1.02.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on AIOT shares. Raymond James dropped their price target on shares of Powerfleet from $10.00 to $8.00 and set an “outperform” rating on the stock in a research note on Tuesday, April 29th. Lake Street Capital set a $8.00 price target on shares of Powerfleet and gave the stock a “buy” rating in a research note on Tuesday, May 27th. Finally, Barrington Research reiterated an “outperform” rating and issued a $15.00 price target on shares of Powerfleet in a research note on Friday, May 23rd. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat, Powerfleet presently has a consensus rating of “Buy” and a consensus target price of $10.50.

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.