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

Equitable Trust Co. bought a new stake in Powerfleet, Inc. (NASDAQ:AIOT) during the fourth quarter, Holdings Channel.com reports. The firm bought 243,072 shares of the company’s stock, valued at approximately $1,619,000.

A number of other hedge funds have also recently added to or reduced their stakes in AIOT. Financial Management Professionals Inc. acquired a new stake in Powerfleet in the fourth quarter valued at approximately $50,000. Spire Wealth Management acquired a new stake in Powerfleet in the fourth quarter valued at approximately $55,000. SG Americas Securities LLC acquired a new stake in Powerfleet in the fourth quarter valued at approximately $228,000. Yarbrough Capital LLC acquired a new stake in Powerfleet in the fourth quarter valued at approximately $372,000. Finally, Inspire Investing LLC acquired a new stake in Powerfleet in the fourth quarter valued at approximately $398,000. Institutional investors and hedge funds own 73.40% of the company’s stock.

Insider Activity at Powerfleet

In other Powerfleet news, insider Catherine J. Lewis sold 82,010 shares of Powerfleet stock in a transaction on Thursday, December 5th. The shares were sold at an average price of $7.05, for a total value of $578,170.50. Following the completion of the sale, the insider now directly owns 240,962 shares of the company’s stock, valued at approximately $1,698,782.10. The trade was a 25.39 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 7.79% of the stock is owned by company insiders.

Powerfleet Stock Performance

Shares of NASDAQ:AIOT opened at $7.80 on Tuesday. 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, Inc. has a 52 week low of $2.85 and a 52 week high of $8.26. The firm’s fifty day moving average is $6.40 and its 200-day moving average is $5.62.

Powerfleet (NASDAQ:AIOT) last released 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 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

AIOT has been the topic of a number of research analyst reports. William Blair restated an “outperform” rating on shares of Powerfleet in a research report on Thursday, November 21st. Barrington Research restated an “outperform” rating and issued a $15.00 target price on shares of Powerfleet in a research report on Thursday, February 6th. Finally, Northland Securities lifted their price target on shares of Powerfleet from $8.00 to $10.00 and gave the stock an “outperform” rating in a report on Friday, November 22nd.

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.