Financial Management Professionals Inc. Buys Shares of 7,554 Powerfleet, Inc. (NASDAQ:AIOT)

Financial Management Professionals Inc. purchased a new position in shares of Powerfleet, Inc. (NASDAQ:AIOT) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 7,554 shares of the company’s stock, valued at approximately $50,000.

Separately, Yarbrough Capital LLC purchased a new stake in Powerfleet in the fourth quarter worth $372,000. 73.40% of the stock is currently owned by institutional investors and hedge funds.

Powerfleet Stock Performance

AIOT stock opened at $6.04 on Monday. The stock has a 50 day moving average of $6.53. 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 1-year low of $2.85 and a 1-year high of $7.38.

Powerfleet (NASDAQ:AIOT) last released its quarterly earnings results on Tuesday, November 12th. The company reported ($0.02) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.01). The business had revenue of $77.02 million during the quarter, compared to analyst estimates of $74.54 million. During the same quarter last year, the firm earned ($0.14) EPS. Research analysts forecast that Powerfleet, Inc. will post -0.14 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms have recently weighed in on AIOT. Northland Securities increased their price target on Powerfleet from $8.00 to $10.00 and gave the stock an “outperform” rating in a research note on Friday, November 22nd. Barrington Research increased their target price on shares of Powerfleet from $10.00 to $15.00 and gave the stock an “outperform” rating in a research report on Friday, November 22nd. Finally, William Blair reissued an “outperform” rating on shares of Powerfleet in a research report on Thursday, November 21st.

Insider Buying and Selling at Powerfleet

In other news, insider Catherine J. Lewis sold 82,010 shares of the firm’s stock in a transaction that occurred 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 transaction, the insider now owns 240,962 shares in the company, valued at approximately $1,698,782.10. This trade represents a 25.39 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 7.79% of the company’s stock.

Powerfleet Company Profile

PowerFleet, Inc provides wireless Internet-of-Things asset management solutions in the United States, Israel, and internationally. The company offers real-time intelligence for organizations to capture IoT data from various types of assets with devices and sensors to increase efficiencies, and improve safety and security, as well as increase their profitability in easy-to-understand reports, dashboards, and real-time alerts; and application programming interfaces for additional integrations and development to boost other enterprise management systems and third-party applications.