Maridea Wealth Management LLC Invests $140,000 in Powerfleet, Inc. (NASDAQ:AIOT)

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

A number of other hedge funds have also recently added to or reduced their stakes in AIOT. Signaturefd LLC bought a new stake in Powerfleet during the fourth quarter worth approximately $25,000. Financial Management Professionals Inc. acquired a new position in shares of Powerfleet in the fourth quarter valued at $50,000. Spire Wealth Management bought a new position in shares of Powerfleet during the 4th quarter worth about $55,000. Private Advisor Group LLC acquired a new position in shares of Powerfleet during the 4th quarter worth about $68,000. Finally, HighTower Advisors LLC bought a new stake in Powerfleet in the fourth quarter valued at approximately $84,000. Institutional investors and hedge funds own 73.40% of the company’s stock.

Analyst Upgrades and Downgrades

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

Powerfleet Trading Down 5.7 %

NASDAQ AIOT opened at $5.59 on Friday. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.21 and a quick ratio of 1.02. Powerfleet, Inc. has a 12-month low of $3.99 and a 12-month high of $8.71. The firm has a 50-day moving average price of $6.54 and a two-hundred day moving average price of $6.10.

Powerfleet (NASDAQ:AIOT) last issued its earnings results on Monday, February 10th. The company reported ($0.11) EPS for the quarter, missing the consensus estimate of $0.02 by ($0.13). On average, equities analysts predict 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.